AUD/USD: bears at bay around 0.7550 as market consolidates Trump effect

Currently, AUD/USD is trading at 0.7541, down -0.23% on the day, having posted a daily high at 0.7564 and low at 0.7541.

Wall Street: closing higher making hay while the sun shines

There has been little in the Aussie while the dollar continues to dominate and underpinned overnight by solid retail sales numbers that could assist the hawks with the rhetoric of a rate increase in December. Yellen to advocate action vrs upturn in inflation? - BTMU Yellen speaks this week and testifies to give the markets a key event after the Trump victory that has roiled markets. Market wrap: Trump effect stalling - Westpac 

That Trump effect is starting to subside somewhat with bonds stabilizing although the DXY managed a score through the 100 handle yet again and keeps the Aussie bulls at bay. US dollar index rises for the fifth day in a row

Westpac's 1-3 month AUD/USD outlook: "The US dollar has had an impressive rise since the US election and has potential to rise further, not least because the Fed will probably hike in December. Against that, coal and iron ore are more likely to sustain their dramatic rises during the months ahead. We target 0.74."

AUD/USD levels

Spot is presently trading at 0.7541, and next resistance can be seen at 0.7545 (Monthly Low), 0.7545 (Weekly Low), 0.7547 (Daily Classic PP), 0.7552 (Hourly 20 EMA) and 0.7560 (Daily Open). Support below can be found at 0.7541 (Daily Low), 0.7527 (Daily Classic S1), 0.7512 (Yesterday's Low), 0.7508 (Daily 200 SMA) and 0.7504 (Daily Classic S2).