AUD/USD: Bears continue to guard 0.7600 post-Aus data

The AUD/USD pair extends its overnight range-play into Asia, and remains capped below 0.76 handle, following the release of mixed economic releases from Australia.  

AUD/USD hovers around 100-DMA

Currently, the AUD/USD pair now trades almost unchanged at 0.7591, trying hard to regain 0.76 handle. Mixed Australian PPI and new home sales data failed to impress the bulls, leaving the Aussie muted below 0.76 handle.

Moreover, ongoing upside consolidation phase seen in the treasury yields also continue to weigh somewhat on the emerging market currencies such as the AUD. While persistent mixed sentiment across the financial markets ahead of the Chinese yuan-fix, followed by the key US GDP numbers, also keep the investors on the side-lines for now.

Markets are expecting the US Q3 advance GDP figures to jump 2.5% versus 1.4% booked in the previous quarter.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7650 (psychological levels) above which gains could be extended to the next hurdle located 0.7706 (daily S3) and 0.7739 (3-week highs). On the flip side, the immediate support located 0.7564 (daily S1). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7550 (round figure) and below that at 0.7529 (200-DMA).