AUD/USD gathers some traction near 0.7400

The Aussie dollar is now approaching the 0.7400 handle vs. the greenback, with AUD/USD rebounding from previous lows in the 0.7300 neighbourhood.

AUD/USD lower post-‘Brexit’

The pair shed more than three cents since yesterday’s peaks in the mid-0.7600s after the risk aversion irrupted in the global markets following the ‘Leave’ win at the UK Referendum.

Spot is now bouncing off multi-day lows in the 0.7300 area recorded soon after the results, advancing through 0.7400 ahead of US Durable Goods Orders and the Reuters/Michigan index.

AUD/USD levels to watch

At the moment the pair is losing 0.59% at 0.7420 and a break below 0.7307 (low post-referendum Jun.24) would aim for 0.7284 (200-day sma) and then 0.7142 (low May 24). On the other hand, the initial resistance aligns at 0.7650 (high Jun.23) followed by 0.7720 (high May 3) and finally 0.7836 (2016 high Apr.21).