Aussie managed to pare some losses of yesterday’s bearish acceleration that extended today to 0.7317 session low, where bounce commenced.
Near-term structure remains weak after yesterday’s failure to hold in daily cloud, as fresh weakness closed well below cloud base and also closed below 0.7335 (Fibo 61.8% of 0.7143/0.7645 ascend) that generated fresh bearish signals.
Today’s recovery attempts probed again above daily cloud base, reinforced by daily Kijun-sen line, with close above cloud base, seen as minimum requirement to keep alive hopes of fresh upside attempts.
Yesterday’s rejection level at 0.7449 marks initial resistance, ahead of daily Tenkan-sen at 0.7464, which marks first pivot ahead of daily cloud top at 0.7488.
Otherwise, repeated close below daily cloud would signal fresh weakness for possible attack at key near-term support at 0.7283 (200SMA / former low of 16 June).

Res: 0.7449; 0.7464; 0.7588; 0.7515
Sup: 0.7375; 0.7317; 0.7283; 0.7216

, Daily Market Outlook