The Australian Dollar consolidates at levels above 0.7500, 7-month high after having broken resistance level at 0.7475 yesterday. During Asian session, the Aussie has moved from 0.7500 to 0.7565 high.
The Aussie is aimed now at 0.7675: “The Aussie dollar managed to breach above the key resistance at .7475 and next objective is now aimed at .7675, the bottom of 2007. Upside will most likely remain favored on a short-term basis as both daily and medium term studies are bullish. Intra-day momentum is positive as well and potential pullbacks may be limited by support at .7475 - previous resistance.”
Next resistance level remains at 0.7560 and above there, 0.7600 and 0.7675. On the downside, the Aussie might find support at 0.7475 and below there, 0.7445/50 and 0.7420.
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