AUD/USD making a fresh attempt to reclaim 0.7700 handle

Extending its bullish trajectory for the third consecutive day, the AUD/USD pair has jumped to a fresh session high and now seems to make a fresh attempt towards reclaiming 0.7700 handle.

Currently trading around 0.7680 region, the pair on Tuesday faced rejection from just below 0.7700 handle on the back of stronger-than-expected release of US consumer confidence data and hawkish comments from Federal Reserve Vice Chairman Stanley Fischer. 

However, given the proximity of the US election to the Fed's next meeting in November, markets already seem to have ruled out possibilities of a Fed rate-hike action in November, which eventually seems to benefit higher-yielding currencies - like Aussie.
 
Focus now shifts to the release of monthly durable goods orders and Fed Chair Janet Yellen's testimony, later during US trading session, which would provide fresh impetus for the pair's near-term trajectory.

Technical levels to watch

From current levels, 0.7700 handle remains immediate resistance, which if conquered should assist the pair to continue scaling higher and head towards retesting August monthly high resistance near 0.7750-55 region.

Meanwhile on the downside, weakness below session low support near 0.7665 level now seems to find support near 0.7640, which if broken is likely to accelerate the slide towards 0.7610-0.7600 strong horizontal support.