The Aussie dollar cracked 0.74 round-figure barrier (also Fibo 61.8% of 0.7442/0.7322 bear-leg and base of thick 4-hr cloud) on strong bullish acceleration in Asia on Friday.
The pair dipped to new 17-month low earlier this week but subsequent bounce which accelerated today, sidelined immediate downside threats.
Rally broke above pivotal barrier, provided by falling 10SMA and looks for bullish signal on weekly close above, while daily RSI and momentum turned north and support scenario.
Indicators show enough space for stretch towards key barrier at 0.7442 (22/25 Jun double-top), break of which would generate signal for stronger correction of 0.7676/0.7322 descend.
Meanwhile, bulls may hold in extended consolidation under thick 4-hr cloud which weighs on near-term action, with dips expected to hold above hourly cloud (spanned between 0.7355 and 0.7365) to keep fresh bullish bias in play.
Res: 0.7400, 0.7423, 0.7458, 0.7477
Sup: 0.7375, 0.7365, 0.7355, 0.7322
