AUD/USD upside seems capped at 0.7650
|The AUD/USD pair traded with mild gains but has failed to gain further traction to build on to its up-move and remains capped by 0.7650 immediate resistance.
Having posted a session high near 0.7640, the pair has retraced few pips to currently trade around 0.7625 region as traders remained on the sideline and seemed reluctant in making big bets ahead of the scheduled speech from Federal Reserve Chairwoman Janet Yellen at the central bank’s summer summit at Jackson Hole.
Today's economic calendar features the release of durable goods orders and weekly jobless claims from the US, which would be looked upon by short-term traders for fresh impetus.
Technical levels to watch
From current levels, 0.7600 round figure mark is likely to act as immediate support. A sustained weakness below this immediate support now seems to drag the pair below weekly lows support near 0.7580 region, towards testing 50-day SMA support near 0.7550 region.
On the upside, should the pair extend its appreciating move and a follow through buying interest above 0.7650 strong resistance is likely to assist the pair back towards 0.7700 handle.
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