AUD/USD clings to gains above 0.7500

AUD/USD has been edging higher over the last sessions, climbing to 10-day highs, even after weekend elections in Australia was too close to call and a hung Parliament remains a possibility.

AUD/USD rose nearly 100 pips throughout the day, regained the 0.75 mark and reached its highest level in over a week at 0.7536 at the beginning of the New York session. At time of writing, the pair is trading at 0.7528, recording a 0.48% gain on the day.

There is little in terms of economic data and volume is expected to remain subdued as US markets remain closed due to the Independence Day holiday.

AUD/USD levels to watch

As for technical levels, next resistances could be found at 0.7536 (Jul 4 high), 0.7615 (Jun 23 high) and 0.7647 (Jun 24 high). On the flip side, supports are seen at 0.7440 (100-day SMA),  0.7370 (Jun 30 low), 0.7322 (Jun 27 low) and 0.7291 (200-day SMA).