AUD/USD: Recovery capped below 0.7500, risk-off weighs

The AUD/USD pair is seen having failed several attempts to reclaim 0.75 barrier, now consolidating the overnight recovery in the upper band of 0.74 handle.

AUD/USD struggles to regain 0.7500

Currently, the AUD/USD pair trades +0.19% higher at 0.7485, having found strong support between 50 & 100-DMA located at 0.7452 and 0.7472 respectively. The Aussie staged a solid recovery in the Asian session as oil prices moved-off three-month troughs, offering support to the resource-linked AUD.

However, the recovery faltered just shy of 0.75 barrier as persistent risk-off markets profile, triggered by fresh sell-off in the Japanese stocks, caps further upside. Moreover, a minor-recovery in the USD across the board combined with lower copper prices, also put a lid on the prices.

Next of relevance for the major remains the US consumer confidence and new home sales data due later in the NA session ahead of the FOMC decision lined up for announcement on Wednesday. While the Aus CPI report is also eagerly awaited by the markets.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7513/32 (10 & 20-DMA) above which gains could be extended to the next hurdle located at 0.7550 (psychological levels). On the flip side, the immediate support located at 0.7452 (50-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7342 (200-DMA).