AUD/USD printing fresh monthly highs amid Bremain-led risk-on

After a brief period of upside consolidation in the late-Asian trades, the AUD/USD pair caught renewed bid-wave and extended north, now printing fresh one-month highs.

AUD/USD eyes 0.76 barrier

Currently, the AUD/USD pair advances +0.45% to fresh monthly tops of 0.7530, having found slid bids near 0.7515 region The Aussie found fresh impetus from improved risk conditions as markets increasingly hope for Bremain success after the latest opinion polls  favour UK to remain in the EU.

Moreover, broad based US dollar weakness coupled with higher oil prices also lends support to the persisting upbeat tone around the AUD/USD pair. Looking ahead, markets now await RBA official Debelle’ speech scheduled later in the EU session, while the polling stations for the Brexit vote opens up in less than an hour and the trades are expected to closely track the Brexit-related news flow today and tomorrow.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7550 (May 2016 levels) above which gains could be extended to the next hurdle located at 0.7578 (daily R2). On the flip side, the immediate support located at 0.7475 (5-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie 0.7442/29 (100 & 10-DMA).