AUD/USD: Bears in command, targets 0.7600?

The bullish pressure behind the USD keeps intensifying in the Asian trades, knocking-off AUD/USD closer towards 0.76 handle

AUD/USD moves further away from 6-week lows

Currently, the AUD/USD pair drops -0.10% to fresh session lows of 0.7619, extending sell-off from above 0.77 handle. The minor-recovery in the AUD/USD pair lost steam near 1.0940 levels, with the prices coming under fresh selling pressure after the US dollar picked-up significant strength against its main rivals amid mixed market sentiment.

The Aussie remains under pressure in wake of increased odds of RBA easing in the upcoming months after yesterday’s Aus employment numbers disappointed markets big time. While renewed weakness across the commodities space also collaborates to the downbeat sentiment around the resource-linked AUD.

Meanwhile, the Aussie ignored rising China house price data, as focus now shifts towards the Australian CPI report due next week for fresh direction on the spot.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7730/34 (3-week highs) above which gains could be extended to the next hurdle located 0.7750 (psychological levels) and 0.7777 (daily R2). On the flip side, the immediate support located at 0.7582 (100-DMA).. Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7516 (200-DMA) and below that at 0.7465 (daily S3).