Technical Outlook AUDUSD 21.03.2017

Technical Outlook AUDUSD 21.03.2017

AUDUSD

The pair is consolidating within 40-pips range and so far holding above 0.7700 handle, following yesterday’s failure to clear key 0.7739 barrier (23 Feb high).
Attempts through 0.7739 on Monday peaked at 0.7745 but closed below, signaling further consolidation ahead of renewed attempts higher.
Break above 0.7739 would look for 0.7758/76 (highs of Aug / Nov 2016).
Bullish daily technicals remain supportive, however, overbought slow stochastic signals that overall bulls might be delayed.
Downside attempts should be ideally contained at 0.7700 support, which guards pivot at 0.7661 (16/17 Mar lows).
Converged daily Tenkan-sen / Kijun-sen lines (0.7617) mark the first downside trigger, ahead of top of rising daily cloud at 0.7573, loss of which will be bearish.

Res: 0.7735; 0.7745; 0.7758; 0.7776
Sup: 0.7697; 0.7661; 0.7647; 0.7617