AUD/USD: 0.7700 has been a tough nut to crack

AUD/USD is on the bid recovering from 0.7653, but yet again struggles to clear 0.7680 while strong offers have been placed around the 0.77 handle.

Markets have been driven by risk in respect of the U.S. presidential race occupying the minds of investors this week while in the background, concerns linger over the FX space in respect to the European banking sector. At the same time, OPEC have boosted risk appatite: OPEC marks its first cut in production since 2008 – Deutsche Bank

In respect to the recent debate between Clinton and Trump, the idea that Clinton took the lead in the first of three debates and the next two taking place next month, such sentiment was boosting risk, the Mexican peso and Canadian dollar as well as US stocks and the Aussie. Meanwhile, U.S. data has been mixed with a soft durable goods number, but a better than expected and prior GDP estimate. Meanwhile, Fed speakers continue to advocate for a rate hike from the Fed and just today, Fed's Lockhart said that November is live. We also start to see Aussie data come back online. Aussie data drought breaks - Westpac

AUD/USD levels

With spot trading at 0.7685, we can see next resistance ahead at 0.7692 (Monthly High), 0.7692 (Weekly High), 0.7692 (Daily Open), 0.7694 (Yesterday's High) and 0.7707 (Weekly Classic R1). Support below can be found at 0.7677 (Daily Classic PP), 0.7674 (Hourly 20 EMA), 0.7660 (Daily Classic S1), 0.7655 (Hourly 100 SMA) and 0.7653 (Daily Low).