AUD/USD: losing the key 0.77 handle and headed to 0.7546?

Currently, AUD/USD is trading at 0.7700, down -0.41% on the day, having posted a daily high at 0.7752 and low at 0.7695.

AUD/USD lost grip of the 0.77 handle in late US trade as the greenback tries to save face in a desperate attempt to little avail, remaining below the 100 handle. Risk-off markets are exiting the antipodeans, but most of the damage to the Aussie is seen through AUD/JPY losing a cent from 87.07 to a low of 86.04.
Elsewhere, the RBA Minutes from the 7th March meeting affirmed the RBA’s reluctance to cut the cash rate. 

RBA Minutes: Little labour cost pressure in the economy - ANZ

"Overall the RBA is upbeat, expecting GDP growth to pick up gradually, downplaying the recent capex miss, but is aware that low-interest rates are driving a pick-up in borrowing and build up in housing risks," explained analysts at TD Securities, "Given the Bank mentions a higher AUD as potentially complicating the transition post the mining boom, rate hikes appear unlikely anytime soon, particularly with spare capacity and wage pressures remaining subdued. Housing data came in strong today, with Dec qtr House prices gaining, at +7.7%/yr (mkt: 6.3%)."

AUD/USD levels

Analysts at Comerzbank expect the Aussie to slide back towards the 0.7632 March 7 high and the 2017 support line at 0.7546. "Should we be proved wrong and a rise as well as daily chart close above the 0.7778 level be made, the April 2016 high at 0.7836 would be in focus. Longer term outlook neutralising: The market remains capped by the 0.7778/.7850 2016 highs and the 38.2% retracement, but it is possible that it is base building."