The Aussie resumes uptrend from 0.7328 (09 May low) and probes above 0.7500 barrier, after strong barrier at 0.7469 (daily Kijun-sen/Fibo 61.8% of 0.7555/0.7328) has been eventually taken out.
Bull-leg from 0.7406 (19 May trough) extends into third consecutive day, boosted by weaker US dollar and bullish signal on break above 0.7469 pivot.
The pair eyes a cluster of strong barriers between 0.7436 (converged 200/55SMA’s) and 0.7555 (02 May high/100SMA), break of which would generate another strong bullish signal.
Meantime, the rally may show signs of stall on approach to these barriers, as slow stochastic is entering overbought territory. Strong bullish structure suggests mild correction, with broken daily Kijun-sen offering initial support and 20SMA at 0.7434, expected to contain.
Res: 0.7517; 0.7536; 0.7555; 0.7584
Sup: 0.7485; 0.7462; 0.7434; 0.7423
