The Aussie is holding above thick daily cloud on Thursday after previous day’s strong rally, but so far unable to clearly next picot at 0.7666 (daily Tenkan-sen).
Consolidation below the latter is under way, with near-term action being biased higher on bullish near-term studies, with daily cloud top (currently at 0.7641) expected to hold and keep scope for further recovery in play.
However, bullish scenario requires sustained break above Tenkan-sen line for fresh extension higher and attack at next pivot at 0.7685 (Fibo 61.8% of 0.7747/0.7585 pullback).
Conversely, failure to hold above daily cloud would be negative signal, with extension below daily Kijun-sen at 0.7618, to revive near-term bears.
Res: 0.7666; 0.7685; 0.7709; 0.7739
Sup: 0.7641; 0.7618; 0.7588; 0.7550
