AUD/USD falters to 0.7500 mark ahead of US CPI

The AUD/USD pair reversed part of Thursday's recovery gains led by disappointing US monthly retail sales data and tipped below 0.7500 handle ahead of US CPI.

The greenback seems to be gaining traction despite of yesterday's mixed economic releases that dampened expectations a Fed rate-hike next week as investors still seemed convinced that the Fed would eventually go ahead and decided to raise interest rates at-least once during 2016.

Moreover, a stronger greenback, as measured by the overall US Dollar Index, is weighing on dollar-denominated commodities and denting demand for commodity-linked currencies - like Aussie.

Up next is the release of US CPI print for August, which will be followed by the release of preliminary UoM Consumer Sentiment index and would be looked upon to grab some short-term trading opportunities.

Technical levels to watch

A follow through selling pressure back below 100-day SMA support near 0.7475-80 region, the pair is likely to accelerate the slide towards 0.7450-45 support before eventually dropping to test 200-day SMA support near 0.7400 round figure mark. 

On the flip side, the pair now needs to build on to its move above session high resistance near 0.7525-30 region in order to increase the prospects of further recovery beyond 0.7565 intermediate hurdle towards 50-day SMA resistance near 0.7580 region.