The Aussie dollar holds in narrow range, consolidating after strong dip on Wednesday on renewed concerns about US tariffs.
Strong downside rejection on Wednesday (20SMA contained spike to 0.7522) keeps alive hopes for fresh upside, as 5/10/20SMA in bullish configuration underpin and helped by positive momentum.
On the other side, falling 30 SMA capped upside attempts and caps today’s action for now (0.7576).
Sustained break above is needed to open way for retest of pivotal barrier at 0.7605 (Tuesday’s high).
Initial negative signal could be expected on return below 10SMA (0.7535) while close below 20SMA (0.7523) would confirm lower top and 0.7605 and risk further easing.
Res: 0.7576, 0.7605, 0.7647, 0.7660
Sup: 0.7535, 0.7523, 0.7502, 0.7488
