AUD/USD bears testing the neckline at psychological 0.7600 level

AUD/USD has been in heavy free-fall, falling from heights shy of the late Sep highs, but not meeting the same lows as 0.7589 and so far maintains the 0.76 handle. 

AUD/USD is a head & shoulders on the 4hr sticks with recent lows falling just shy of the neck-line at 0.7606 as supply takes a hold of the Aussie below 0.7700 within its recent sideways consolidation of the mid-Sep rally. 

The U.S. dollar is getting off to a good start this final quarter of 2016 "as optimism over a Clinton victory and growing confidence that US economic activity may accelerate helps to support the currency", as explained analysts at ANZ.  

Coupled with the possibility of the Fed hiking rates this year and an RBA is only on a tentative hold, Aussie bulls were unable to pull out of the marginally bullish consolidation phase or move and hold above 0.7700. 

Meanwhile, we have retails sales from Australia and the ANZ Commodity Price Index (Sep) as highlights ahead of Fed’s Evan’s speaking in Auckland on the US economy and policy. 

AUD/USD levels

Current price is 0.7614, with resistance ahead at 0.7615 (Daily 20 SMA), 0.7619 (Daily Open), 0.7619 (Weekly Low), 0.7625 (Daily Classic S2) and 0.7625 (Daily High).Next support to the downside can be found at 0.7609 (Daily Low), 0.7608 (Daily Classic S3), 0.7608 (Yesterday's Low), 0.7596 (Weekly Classic S1) and 0.7533 (Weekly Classic S2).