AUD/USD: Bears eye 0.7600 amid bullish DXY and weaker Aus yields

The AUD/USD pair is back on the offers and meanders near daily lows amid renewed strength in the greenback versus its main rivals and unimpressive Australian business confidence numbers.

AUD/USD offered just ahead of 5-DMA

Currently, the AUD/USD pair drops -0.33% to trade near session lows of 0.7618, heading for a test of 0.7600 levels. After a brief overnight recovery, the AUD bears fought back control and knocked-off the Aussie after the Australian benchmark 10-year government bond yields dropped to the lowest levels since November.

Adding to the weakness in AUD/USD, the US dollar regains poise and is seen building on the overnight rebound against most of it majors. While Australia’s NAB business confidence gauge offered mixed signals about the economic outlook.

Markets now await RBA governor Lowe’s speech, US datasets and FOMC member Evan’s speech due later on Thursday for fresh incentives on the spot.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7645/48 (5-DMA/ daily high) above which gains could be extended to the next hurdle located 0.7699 (multi-week high) and 0.7750 (psychological levels). On the flip side, the immediate support located at 0.7593 (20-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7526 (200-DMA) and below that 0.7500 (zero figure).