AUD/USD hits fresh session high ahead of US GDP

The AUD/USD pair maintained its bid tone and is now extending its upward trajectory to hit a fresh session high around 0.7645 region.

Up-tick in commodity prices, especially copper, is seen boosting demand for commodity-linked currencies - like the Aussie. Moreover, repositioning ahead of the key even risk, Fed Chair Janet Yellen's speech at Jackson Hole symposium, seems to have provided an additional leg of strength to the pair.

Next on tap would be the first revision of US second quarter GDP growth figure, which might provide some immediate momentum play for short-term traders.

Technical levels to watch

Bullish momentum above 0.7655 weekly high resistance seems to lift the pair towards reclaiming 0.7700 round figure mark. On the downside, 0.7615 level, closely followed by 0.7600 round figure mark now becomes immediate support levels to watch.