AUD/USD firmer, re-takes 0.7600 ahead of RBA

After a flat close seen a day before, the AUD/USD pair appears to have regained poise and now looks to regain 0.76 handle, as investors gear up for the upcoming RBA cash rate decision.

The AUD bulls are back in command, although lack momentum as sentiment remains undermined by ongoing geo-political concerns triggered by Monday’s North Korean missiles launch, with the latest update citing the US begins deploying THAAD missile in S. Korea.

Meanwhile, subdued trading activity around the greenback against most of its major, continue to lend some support to the Aussie.

All eyes now remain on the RBA policy decision, which will be announced at 0330GMT today, with markets expecting the RBA to maintain its neutral bias and keep the policy steady.

AUD/USD Levels to watch   

At 0.7595, the immediate resistance at 0.7629/56 (10 & 20-DMA) above which gains could be extended to the next hurdle located 0.7701/10 (Mar 1 & Feb 27 high) and 0.7743/50 (Feb 23 high/ psychological levels). On the flip side, the pair finds the immediate support located at 0.7542 (200-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7523/20 (Jan-mid lows) and below that 0.7507/00 (Jan 27 low/ round number).