The AUD/USD pair stalled RBA minutes-led slide and has managed to rebound around 10-pips from session lows touched earlier.
The Australian Dollar came under some pressure after minutes of the RBA's October policy meeting revealed that any policy change would be dependent on domestic economic conditions and will not be influenced by tighter monetary policy elsewhere.
The central bank took yet another chance to raise concerns about the effects of excessive Aussie strength and dragged the pair to an intraday low level of 0.7835.
• RBA Minutes: Step up in the exchange rate rhetoric - TDS
However, a subdued action around the US Treasury bond yields extended some support to the higher-yielding currencies and helped limit deeper losses, at least for the time being.
It would now be interesting to see if the pair is able to maintain its neutral bias or turns for the worst amid a strong US Dollar buying interest.
Later during the NA session, the US economic data - import/export prices, industrial production and capacity utilization data, would now be looked upon for some fresh impetus.
Technical levels to watch
Immediate support is pegged near 0.7825 level, below which the pair is likely to accelerate the fall towards 100-day SMA, currently near the 0.7800 handle, before eventually dropping to an important horizontal support near mid-0.7700s.
On the upside, momentum beyond 0.7860 level might confront fresh supply near the 0.7885-90 region, above which the pair is likely to surpass the 0.7900 handle and head towards testing 50-day SMA hurdle near the 0.7910 region.
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