Technical Outlook AUDUSD 30.03.2017

Technical Outlook AUDUSD 30.03.2017

AUDUSD

The Aussie is holding above thick daily cloud on Thursday after previous day’s strong rally, but so far unable to clearly next picot at 0.7666 (daily Tenkan-sen).
Consolidation below the latter is under way, with near-term action being biased higher on bullish near-term studies, with daily cloud top (currently at 0.7641) expected to hold and keep scope for further recovery in play.
However, bullish scenario requires sustained break above Tenkan-sen line for fresh extension higher and attack at next pivot at 0.7685 (Fibo 61.8% of 0.7747/0.7585 pullback).
Conversely, failure to hold above daily cloud would be negative signal, with extension below daily Kijun-sen at 0.7618, to revive near-term bears.

Res: 0.7666; 0.7685; 0.7709; 0.7739
Sup: 0.7641; 0.7618; 0.7588; 0.7550