AUD/USD slides to fresh YTD lows amid notable USD demand

   •  Faces rejection near the 0.77 handle amid follow-through USD recovery. 
   •  Subdued commodity prices/sliding US bond yields does little to lend support.

The AUD/USD pair struggled to build on early modest recovery move and faced rejection at the 0.7700 handle.

Currently placed at near the 0.7670-65 region, the pair has now dropped to fresh YTD lows and the latest leg of fall from session tops was primarily led by some renewed US Dollar buying interest. 

Moreover, a subdued action around commodity space / retracing US Treasury bond yields also did little to lend any support to the commodity-linked / higher-yielding Australian Dollar and stall the pair's downfall to fresh 3-month lows.

Meanwhile, easing global trade war fears and the latest positive geopolitical developments in the Korean peninsula failed to boost investors' confidence and revive demand for perceived riskier currencies - like the Aussie. 

Focus now shifts to the final US Q4 GDP growth figures might help traders grab some short-term opportunities later during the early NA session. 

Technical levels to watch

Immediate support is now pegged near 0.7640-35 area, below which the pair seems to slide further towards testing the 0.7600 handle. On the upside, any recovery attempts might continue to confront fresh supply near the 0.7700 handle, which if cleared might trigger a short-covering bounce towards 0.7745-50 hurdle.