AUD/USD consolidates below 0.7500

AUD/USD has entered a consolidation phase over the last hours, hovering just below the 0.7500 level after being rejected once again from that area during the Asian session.

In the absence of major economic releases, the pair has been confined to sideways trading over the last sessions, with the 0.7460 area acting as immediate support. At time of writing, AUD/USD is trading at 0.7465, down 0.37% on the day.

AUD/USD levels to watch

In terms of technical levels, next supports are seen at  0.7453 (Jul 21 low), 0.7407/04 (Jul 6 low/50-day SMA), and 0.7318 (200-day SMA). On the other hand, resistances could be faced at 0.7516 (Jul 20 high), 0.7549 (10-day SMA) and 0.7606 (Jul 18 high).