AUD/USD finds support ahead of 0.7600

Following a sideways phase, AUD/USD resumed its corrective move to the downside, amid dollar strength, while the Aussie continues to feel the pressure from disappointing domestic employment data.

AUD/USD made a recovery attempt but was capped by the 0.7650 area, and turned lower, falling to a low of 0.7603 in recent dealings. The 50-day SMA acted as dynamic support and AUD/USD managed to hold above the 0.76 mark. It was last trading around 0.7610, still 0.18% below its opening price. 

AUD/USD has retraced more than half of its recent rally from 0.7506 to 0.7734 and is headed for a weekly loss.

AUD/USD levels to consider

As for technical levels, next supports could be faced at 0.7603 (50-day SMA), 0.7580 (Oct 17 low) and 0.7555 (100-day SMA). On the other hand, resistances could be faced at 0.7650 (Oct 21 high), 0.7734 (Oct 20 high), 0.7758 (Aug 11 high) and 0.7800 (psychological level).