AUD/USD rebounds from 2-week lows

AUD/USD bounced to the upside during the last minutes in line with a recovery in US equity and gold prices. Earlier the pair dropped to 0.7560, hitting a fresh 2-week low and from there it rose almost 30 pips in a few minutes. 

It was trading at 0.7585, down 0.50% for the day. It was able to remove some bearish pressure but price still remains below the 20-hour moving average that stands at 0.7595. A recovery above 0.7600 could change the intraday tone. 

Greenback is among the top performers in the currency market ahead of Friday’s NFP. Better-than-expect US economic data during the week and today the decline in initial jobless claims increased optimism into tomorrow's employment numbers. 

Technical levels 

To the downside, support levels might be located at 0.7560 (daily low), 0.7530 (Sep 20 low) and 0.7475 (Sep 16 & 19 low). On the opposite direction, resistance could be seen at 0.7595, 0.7620 (daily high) and 0.7645 (Oct 5 high).