AUD/USD: making tracks to the upside, aiming for a break of 0.7500

Currently, AUD/USD is trading at 0.7479, up 0.03% on the day, having posted a daily high at 0.7500 and low at 0.7433.

AUD/USD has moved higher within the recovery from recent lows of 0.7430, despite the US GDP data as the main focus for the US shift that beat expectations on an annualized basis. The revised print for Q3 US GDP reading was higher-than 3.0% annualized growth expected and 2.9% reported previously.

OPEC papers for Wednesday talks propose total output cut of 1.2 mln bpd from Oct levels - RTRS

While keeping an eye on OPEC, we now await the nonfarm payrolls before the end of year FOMC meeting in the middle of December and this number leaves a rate hike on the table and priced into the dollar. 

AUD/USD levels

With spot trading at 0.7480, we can see next resistance ahead at 0.7496 (Yesterday's High), 0.7500 (Daily High), 0.7501 (Daily 20 SMA), 0.7505 (Daily Classic R1) and 0.7508 (Weekly Classic R1). Support below can be found at 0.7478 (Daily Open), 0.7478 (Weekly High), 0.7469 (Daily Classic PP), 0.7467 (Hourly 20 EMA) and 0.7442 (Daily Classic S1).