AUD/USD comes down to test 0.7600

The Aussie dollar saw its daily gains erased after AUD/USD briefly tested the 0.7600 neighbourhood, or daily lows.

AUD/USD upside capped near 0.7640

After climbing as high as the boundaries of 0.7640 during the European morning, spot has sparked a leg lower to the current 0.7610/00 band following a rebound in the greenback in the wake of auspicious results in the US docket.

Nothing scheduled in Oz for the rest of the week, while market participants will remain vigilant on the speech by Chair Yellen on Friday, looking for hints regarding the timing of the potential rate hike by the Fed.

AUD/USD levels to watch

At the moment the pair is losing 0.11% at 0.7605 facing the next support at 0.7540 (20-day sma) followed by 0.7501 (100-day sma) and then 0.7417 (low Jul.27). On the other hand, a breakout of 0.7677 (23.5% Fibo of 0.7417-0.7757) would aim for 0.7757 (high Aug.10) and finally 0.7836 (2016 high Apr.21).