The Aussie rallied on upbeat Australian data and being also boosted by weaker US dollar.
The pair broke firmly above former congestion tops and also took out Fibo barrier at 0.7630. Bulls are looking for the upper Bollinger band at 0.7690 that may temporarily cap gains as daily studies are overbought.
Hourly trough at 0.7633 marks initial support ahead of former congestion tops at 0.7600 zone and rising daily 10SMA at 0.7573 that is holding today’s action.
Strong bullish setup of daily studies, with multiple MA’s bull-crosses, strongly underpins for further bullish extension.
Break above 0.7690 barrier could extend towards 0.7758/0.7776 (11 Aug / 08 Nov 2016 highs).
US NFP data are in focus.
Res: 0.7690, 0.7758, 0.7776, 0.7833
Sup: 0.7633, 0.7600, 0.7575, 0.7549
