AUD/USD advances to highs near 0.7500

The Aussie dollar is accelerating its upside momentum today, now sending AUD/USD to test fresh daily peaks in the vicinity of the 0.7500 handle.

AUD/USD firmer ahead of FOMC

Spot is trading on a firmer fashion today, recovering part of yesterday’s deep retracement and managing to rebound from session lows in the 0.7400 neighbourhood, where is located the 55-day sma. The better tone in AUD contrasts with the rest of the risk-associated space in a context where risk aversion still prevails.

Absent data releases in Oz, the bulk of the attention will be on the US calendar, where the ISM Non-manufacturing and the FOMC minutes will take centre stage later in the NA session.

AUD/USD levels to watch

At the moment the pair is advancing 0.46% at 0.7496 and a break above 0.7549 (high Jul.4) would aim for 0.7653 (high Jun.24) and finally 0.7836 (2016 high Apr.21). On the other hand, the next support aligns at 0.7409 (55-day sma) followed by 0.7301 (200-day sma) and then 0.7283 (low Jun.16).