AUD/USD attempts recovery above 0.7500

AUD/USD is again challenging the 0.7500 area. The pair recently printed a fresh daily high at 0.7514, but is showing difficulties holding above 0.7500. A consolidation on top could open the doors for an extension of the recovery.

On Tuesday AUD/USD dropped to 0.7441, the lowest level since July 27. The pair is rising today 0.45%, having the best performance in a week boosted by risk appetite and despite the AUD jobs report released during the Asian session.

Technical levels

Short-term technical indicators improved signaling a potential continuation of the recovery but the daily cart shows the price below the 20-day moving average (0.7575) and pointing to the downside.

To the upside, immediate resistance is seen at 0.7535 (Sep 02 high), 0.7565 (Sep 12 & 13 high) and 0.7600 (psychological). On the opposite direction, support could be located at 0.7495 (Sep 14 high), 0.7440 (weely low) and 0.7420 (July 27 low).