Bulls resume on fresh risk-on mode
The pair resumes multi-day uptrend on Thursday, following Tue/Wed consolidation, shaped in double Doji and probes again above cracked 55DMA (0.6868) and 0.6879 barrier (50% of 0.7082/0.6677 / daily cloud top).
Risk-sensitive Aussie benefits from optimistic tone in US/China trade conflict as President Trump granted some trade concessions to China.
Fresh advance is also supported by rising bullish momentum, with fresh bullish signal expected on close above 0.6879 pivot ( the pair traded above daily cloud in mid-July) that would expose target at 0.6927 (Fibo 61.8%).
solid supports lay at 0.6850 (Tue/Wed consolidation lows) and 0.6831 (Broken Fibo 38.2%).
Res: 0.6879; 0.6887; 0.6904; 0.6927
Sup: 0.6868; 0.6850; 0.6831; 0.6811