Aussie was initially pushed higher in the course of the yesterday's session, but found resistance around 0.7630 level and turned around breaking all the way to 0.75 handle thus forming a shooting star. Tomorrow, there will be no major data releases so we can expect a bit steadier session. Any type of supportive candles around 0.7450 and 0.74 handle in extension would be short-term buying signal, while resistive candles around 0.7550 and 0.76 level would offer short-term selling opportunity.
In long-term trends, despite this decline, we would be buyers for this pair with initial target set at 0.78 handle. If we see break above this pair pair could easily reach 0.80 handle where we can expect significant amount of resistance, with that being round psychologically important level. Selling is not an option at the moment as we see 0.74 handle as being floor for this market.
