The Aussie dollar consolidates after three days of strong rally but holds bullish tone for further extension of recovery from 0.7085 (11 Sep low).
Bulls probed again above pivotal 0.7268 barrier (Fibo 61.8% of 0.7381/0.7085 bear-leg) on Thursday, but so far without clear break.
Strong bullish momentum supports the action, but bulls may show further hesitation at 0.7268 as slow stochastic is strongly overbought on daily chart.
Broken 30SMA offers initial support at 0.7241, with deeper dips expected to hold above 20SMA (0.7215) to keep bulls in play.
Eventual firm break above 0.7268 pivot would open way for extension towards falling 55SMA (0.7315).
Res: 0.7275, 0.7315, 0.7362, 0.7381
Sup: 0.7241, 0.7215, 0.7198, 0.7177
