AUD/USD falters ahead of 0.7600

AUD/USD reached its highest level in 7 weeks on Thursday as the greenback underperforms versus major competitors on Thursday while the UK referendum is underway.

AUD/USD climbed about a hundred pips and peaked at 0.7596 during the European session, although it failed to clear the 0.76 mark and retreated a tad. At time of writing, the pair is trading at 0.7565, still up 0.89% on the day.

Commodity currencies trade firmer against a weaker US dollar as risk appetite remains elevated ahead of the referendum results, following polls suggesting a Remain lead.

AUD/USD technical levels

In terms of technical levels, next resistances could be found at 0.7600 (psychological level), 0.7670 (May 2 high) and 0.7719 (May 3 high). On the flip side, supports are seen at 0.7490 (Jun 23 low), 0.7428 (50-day SMA), 0.7415 (100-day SMA) and 0.7360 (Jun 17 low).