The Aussie dollar maintains bullish bias and retests key barrier at 0.7565 (Fibo 38.2% of 0.7812/0.7412 bear-leg) reinforced by falling 20SMA, where recovery leg from 0.7412 low faces strong headwinds.
Strong bullish signal has been generated last week’s completion of reversal pattern, with recovery helped by weaker greenback, but mixed daily techs show unclear near-term picture.
Repeated failure at 0.7565 would be initial signal of recovery stall which requires confirmation on return and close below 10SMA (0.7509).
Bullish scenario requires close above Fibo barrier / 20SMA to signal extension of recovery leg from 0.7412 towards next target at 0.7612 (daily Kijun-sen / 50% of 0.7812/0.7412 fall.
Res: 0.7565, 0.7584, 0.7612, 0.7624
Sup: 0.7539, 0.7509, 0.7472, 0.7450
