AUD/USD remains stuck in a narrow range Wednesday, unable to gather fresh momentum in either direction, with the 0.7690 resistance area capping every upside attempt.
AUD/USD advanced for a sixth day in a row and made a marginal new high of 0.7689, but once again found resistance and pulled back. The pair looked past domestic, Chinese and US data throughout the day.
However, with the downside also limited, the pair was confined to a sideways phase. At time of writing, AUD/USD is trading at 0.7674, up 0.16% on the day.
AUD/USD levels to watch
As for technical levels, next resistances could be faced at 0.7690 (Oct 4 high), 0.7709 (Sep 29 high) and 0.7731 (Sep 8 high). On the flip side, supports could be faced at 0.7623 (21-day SMA), 0.7580 (Oct 17 low) and 0.7550 (100-day SMA).
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