The Aussie dollar was the top winner in Asian session, gaining nearly 1% against the US dollar and hitting session high at 0.7600 zone.
The pair accelerated higher in late Wednesday after President Donald Trump said that the US dollar is getting too strong that pushed the greenback sharply lower across the board.
The Aussie received fresh boost from Australian jobs data that showed unexpected increase in number of employed people in March by 60.900, which came well above forecasted 20.000 and upwards-revised number of 2800 new jobs in February.
Aussie rallied sharply from session low at 0.7514 and peaked ticks ahead of psychological 0.7600 barrier (Fibo 61.8% of 0.7677/0.7472 downleg), which is reinforced by converged daily 30/20SMA’s.
Initial bullish signal was generated on Wednesday’s close above 100SMA (0.7515), with subsequent strong bullish acceleration that took out next pivot at 0.7550 (200SMA), turning near-term picture bullish.
The pair may enter consolidative /corrective phase ahead of cluster of resistances at 0.7600/20 zone, as near-term studies are extremely overbought. Downticks should hold above broken 200SMA to keep fresh near-term bulls in play for further upside action.
Conversely, loss of 200SMA handle would soften near-term structure and turn risk lower.
Res: 0.7593, 0.7620, 0.7642, 0.7677
Sup: 0.7575, 0.7550, 0.7515, 0.7472
