Aussie buoyed on Friday after the Reserve Bank of Australai's (RBA) Financial Stability Report ( FSR ).
RBA's FSR stated that the risks from high-household debt and aggressive bank lending practices have slightly abated of late.
The pair is trading 0.65% higher on the day, scope for further upside.
Technical support gains. shows strong upside momentum at 64 levels and Stochs are biased higher.
Next bull target aligns at 200-DMA at 0.7541. Break out at 200-DMA could propel the pair higher.
We see weakness only on close below 21-EMA at 0.7388.
Support levels - 0.7485 (50% Fib), 0.7466 ( 100-DMA ), 0.7434 (5-DMA)
Resistance levels - 0.7541 ( 200-DMA ), 0.76, 0.7680 (major )
Good to go long around 0.7480/90, SL: 07430, TP: 0.7540/ 0.76/ 0.7680