AUD/USD extends recovery, approaches 0.7600

AUD/USD  continued to recover ground during the American session after the sharp  decline that took place on Friday. After Wall Street opening bell the pair broke above 0.7560 and recently printed a fresh daily high at 0.7581.

From today’s low it has risen more than 50 pips but still remains 75 pips below the level it before Janet Yellen speech on Friday.

The US dollar is falling across the board on Monday. Greenback opened the week higher and reached fresh weekly highs on Asian hours but then lost momentum and retreated across the board erasing daily gains. It decline despite US data, that showed US personal income and spending rising in line with expectation with positive revisions of the previous months.

AUD/USD technical levels

To the upside, resistance levels could be seen at 0.7581 (daily high), 0.7600 (psychological / Aug 25 low) and 0.7630/35 (Aug 24 high). On the opposite direction, support could be located at 0.7555 (20-hour moving average), 0.7520 (daily low) and 0.7485 (Aug low).