recently we had some very positive news out of Australia ( intrest rate increase .25%, 0.9 GDP, and better than expected trade balance today -1.18B) However the AUD is lossing ground on risk aversion basis. For 2 days 200 SMA was acting as a support, so it can be expected for the pair to support and on the first signs of risk appetite to make move higher. In addition there is Fib. level that can act as support as well. Out of the indicators Slow Stochastic is about to cross for the move upside. Additional support for the pair is at 79.73, and 79.61, and stops should be positioned bellow these levels, Profit targets should start at 80.50, 80.80, and above, provided that pair make some rapid gains during euro session.
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