AUD/USD rejected from 0.7500, consolidates near 0.7400

The Australian dollar lost steam on Thursday and staged a corrective pullback, reversing part of its recent gains against the greenback, after hitting fresh monthly highs.

AUD/USD briefly rose above 0.75 and stretched to a peak of 0.7504 during the Asian session, but came under pressure in a strongly risk-averse environment. AUD/USD slid to a low of 0.7419 before finding support.

In the absence of first-tier data or events, the pair has spent the last hours consolidating in a range, and it was last at 0.7434, recording a 0.48% loss on the day.

AUD/USD levels to watch

In terms of technical levels, next resistances could be found at 0.7516 (May 4 high), 0.7555 (Apr 27 low) and 0.7670 (May 2 high). On the flip side, supports are seen at 0.7413 (100-hour SMA), 0.7379 (100-day SMA) and 0.7315 (Jun 6 low).