AUD/USD continues to pull back from post-RBA highs

AUD/USD edged a tad lower over the last hours and scored fresh daily lows, as the greenback continues to outperform Antipodean currencies.

AUD/USD has continued to pull back from post-RBA highs scored at the 0.7640 zone, having given up over a third of yesterday’s rally. AUD/USD was last trading at the 0.7580 area, down 0.34% on Wednesday, having bottomed out at 0.7573 so far.

On Tuesday, the RBA decided to cut the main rate by 25 bps, which was largely priced in, so the Aussie managed to rally after the immediate negative reaction. Today, better-than-expected US ADP data helped to lift the greenback a little bit. US private sector added 179,000 new jobs in July above the 170,000 gain expected and following an upwardly revised reading of 176,000 in June.

AUD/USD levels to consider

On the downside, AUD/USD could face next supports at 0.7523 (10-day SMA), 0.7490 (100-day SMA/Aug 2 low) and 0.7451 (50-day SMA). On the upside, resistances are seen at 0.7613 (Aug 3 high), 0.7657 (Jul 12 high), 0.7675 (Jul 15 high) and 0.7600 (psychological level).