AUD/USD bounces from below 0.7600

AUD/USD extended losses into a third day on Friday as the greenback stays firm in the US presidential elections aftermath.

Despite the unexpected Trump victory, the dollar managed to shrug-off the initial shock and strengthened afterward with investors expecting  that any fiscal stimulus implemented by Trump administration would lead to a faster pace of rate hikes.

Fed’s Vice Chair Stanley Fischer is due to speak later on the day, while U of Michigan will release its consumer sentiment index.

AUD/USD levels to watch

AUD/USD has dropped to a 2-week low of 0.7559 on Friday before trimming some losses. It was last trading at 0.7605, still down 0.07% on the day.

As for technical levels, next supports are seen at 0.7559 (Nov 11 low), 0.7505/04 (Oct 28 low/200-day SMA) and 0.7441 (Sep 13 low). On the flip side, resistances line up at 0.7629 (Nov 11 high), 0.7660 (10-day SMA), 0.7741 (Nov 10 high) and 0.7777 (Nov 8 high).