The pair is trading a and price action has bounced of channel base support at 0.7575.
Momentum studies are , strength seen at 57, and is well above zero mark.
Upside finds immediate resistance at 0.7605 (5-DMA), break above could see further upside.
Resistnace above 0.7605 are located at 0.7638 (Jul 13 high) 0.7655 ( ), 0.7676 (July 15 high).
We see weakness only on break below channel base at 0.7575, test of 0.7513 (20-DMA) then likely.
Q2 CPI data (due Wed 27 July) keenly awaited after the extremely weak Q1 data and consequent downgrade to the RBA’s profile.