Strong four-day recovery from 0.7369 (02 June low) is showing initial signs of stall after rally peaked at 0.7566 on Wednesday and is holding in range between 200SMA (0.7527) and 100SMA (0.7556) for the second day. The Aussie is expected to maintain firm tone while 200SMA is holding that may result in prolonged consolidation. On the other side, increased risk of pullback is expected on firm break below 200SMA which may extend towards next significant supports at 0.7496/91 (55SM/Fibo 38.2% of 0.7369/0.7566 upleg). Slow stochastic is turning lower in overbought territory on daily chart and would support scenario on reversal.
Res: 0.7556, 0.7585, 0.7610, 0.7664
Sup: 0.7527, 0.7495, 0.7468, 0.7476
