AUD/USD surrenders daily gains, back below 0.76 handle ahead of US data

The AUD/USD pair surrendered all of its daily gains back closer to 1-1/2 month highs touched in the previous session and has now retreated back below the 0.7600 handle ahead of the US economic data.

Persistent US Dollar buying interest through European trading session, against the backdrop of Wednesday's not so dovish Fed, has been one of the key factors weighing on the major. Hawkish Fed led to an up-tick in the US treasury bond yields and further collaborated towards driving flows away from higher-yielding currencies - like the Aussie.

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Meanwhile, a weaker sentiment around commodity space, including copper and gold, did little to extend any support to commodity-linked currencies and stall the pair's corrective slide to fresh session lows near 0.7580-75 region.

Next on tap would be the US economic docket, featuring the usual weekly jobless claims and regional manufacturing PMI prints, which would be looked upon for some trading impetus. 

Technical levels to watch

Immediate support is pegged at 100-day SMA near 0.7560-55 area, which is closely followed by the very important 200-day SMA support near 0.7530 region. A follow through selling pressure might now drag the pair back towards the key 0.75 psychological mark.

On the upside, the 0.7600 handle now seems to act as immediate resistance, which if cleared might lift the pair back towards multi-month highs resistance near 0.7630-35 region en-route 0.7670-75 hurdle.