Technical Outlook AUDUSD 29.03.2017

Technical Outlook AUDUSD 29.03.2017

AUDUSD

The Aussie is regaining traction after strong rejection at 0.7588 (Fibo 61.8% support) and repeated closes above 20SMA (0.7616) that resulted in fresh bullish acceleration and emerge above widening daily cloud.
Immediate downside pressure eased on probe above daily cloud and 0.7647, double Fibonacci resistance (Fibo 38.2% of 0.7747/0.7585 pullback / broken Fibo 38.2% of 0.7489/0.7747 upleg), with close above the latter needed to maintain bullish near-term bias.
Next pivotal barrier lies at 0.7666 (daily Tenkan-sen / 50% of 0.7747/0.7585) and sustained break here would confirm reversal.
Bullishly aligned daily studies support the notion.
Daily cloud top marks solid support at 0.7632, followed by lower pivot at 0.7618 (daily Kijun-sen) loss of which would shift near-term risk lower.

Res: 0.7666; 0.7685; 0.7709; 0.7739
Sup: 0.7632; 0.7618; 0.7588; 0.7545