AUD/USD bulls suffering below 0.76 handle in a resurgence of the greenback

Currently, AUD/USD is trading at 0.7597, down -0.16% on the day, having posted a daily high at 0.7615 and low at 0.7594.

AUD/USD is pressing down on the support from supply at 0.7640 down to current aforementioned spot below the 4hr 200 sma at 0.7598. The greenback has been making a resurgence with the DXY up to nine-month highs and US yields impacting with the run from 1.72% to 1.77% overnight, of which analysts at Westpac suggested most of the rise coinciding with the release of the strong manufacturing PMI report.

US dollar index rises again but remains below 99.00

Meanwhile, the Aussie is in focus again this week with crucial CPI data and at the same time we will have some key data releases from the US economy to occupy most of the space on this week's calendar.

"AUD/USD 1 day: The strong US dollar is keeping AUD/USD contained, with a neutral bias today around 0.7600," suggested analysts at Westpac, offering a longer term view within the following outlook for the antipodeans.

AUD/USD levels

With spot trading at 0.7598, analysts at Commerzbank argued for further slippage to the five month support line at 0.7532 and they would exit remaining shorts at 0.7550. Meanwhile, nearer term, we can see next resistance ahead at 0.7608 (Weekly Low), 0.7610 (Hourly 20 EMA), 0.7611 (Daily Open), 0.7615 (Daily High) and 0.7616 (Daily Classic PP). Support below can be found at 0.7594 (Daily Low), 0.7590 (Yesterday's Low), 0.7579 (Daily Classic S1), 0.7559 (Daily 100 SMA) and 0.7550 (Daily Classic S2).