It will be a week since the RBA cut cash rate to a record low of 1.5%. After briefly trading below 0.75, Aussie sprang from 100 DMA and is up about 150 pips since then, flirting with the July high (0.7675).

The pair broke above 100 week SMA (~0.7635) for the first time since April 2013 and is eyeing the 2011 - 2016 support/resistance line near 0.7750. A rally to 0.80 seems quite possible in the weeks ahead.

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