AUD/USd consolidating in positive territory below 0.7675 key resistance

AUD/USD is currently consolidating the minor recovery from just below the 0.77 handle in a broader bullish trend on the 0.76 handle.

AUD/USD has been better bid since the FOMC and the les dovish rhetoric from Debbelle who is not seemingly in a hurry to cut interest rates anytime soon in respect to their inflation target and at the same time, commodity prices at present are also supportive. Risk-off form in the markets after last night's Presidential debate has weighed on the pair, but we are soe way off from the key support down at 0.7605 ahead of the stronger level at 0.7580 and the pair remains above key hourly ma's.

AUD/USD levels

Analysts at UOB Group explained that so as long as 0.7560 is intact, the prospect of a move above 0.7675 still appears to be quite good as a key resistance already breached with highs at 0.7695 ahead of 0.7732 recent highs of 7th Sep and 0.7755 on 9th August.  Meanwhile, the current price is 0.7656, with resistance ahead at 0.7658 (Daily Classic R1), 0.7678 (Daily Classic R2), 0.7688 (Monthly High), 0.7696 (Daily High) and 0.7706 (Daily Classic R3). Next support to the downside can be found at 0.7656 (Hourly 20 EMA), 0.7651 (Yesterday's High), 0.7644 (Weekly High), 0.7635 (Daily Open) and 0.7634 (Hourly 100 SMA)