The Aussie hit new recovery high at 0.7995 on Wednesday but gains stalled just ahead of psychological 0.8000 barrier.
Australian data released overnight helped but the pair is showing strong hesitation at 0.8000. Building approvals were negative in July (-1.7%) but well above forecasted fall of 5.0%, while Construction in Q2 surged by 9.3% vs forecasted rise of 1.0% and upward revised Q1 numbers (0.9% from 0.7%) made the whole picture positive.
Bullish daily studies remain supportive and firm break above 0.8000 would trigger stops and accelerate towards targets at 0.8042 (27 July high) and key 0.8065 barrier (01 Aug peak / two-year high).
Extended consolidation is expected to precede fresh push higher, with initial supports at 0.7936/30 (converging daily Kijun-sen / Tenkan-sen) and broken triangle upper boundary at 0.7917 which should contain extended dips.
Res: 0.7995, 0.8000, 0.8042, 0.8065
Sup: 0.7936, 0.7930, 0.7917, 0.7905
