AUD/USD extends post-NFP gains above 0.7560, will it sustain?

The Aussie remains on the bids and look to take on the post-NFP recovery into a second day today, in wake of ongoing broad US dollar weakness and higher gold and copper prices.

The AUD/USD pair is the strongest across the fx board so far this session, largely on the back of weaker hourly wages data seen in Friday’s US labour market report, which weighed heavily on the greenback against its main peers.

However, it remains to be seen whether the major holds the recovery mode ahead of potential Article 50 trigger on Tuesday and Wednesday’s FOMC meeting, which may keep the bulls on the edge.

Also, nervousness ahead of the Chinese data dump due tomorrow, restricts further upside in the AUD/USD pair.

AUD/USD Levels to watch   

At 0.7562, the immediate resistance at 0.7600/09 (zero figure/ Mar 8 high) above which gains could be extended to the next hurdle located 0.7620/36 (20-DMA/ Mar 7 high) and 0.7650 (psychological levels). On the flip side, the pair finds the immediate support located at 0.7543 (200-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7482 (100-DMA) and below that 0.7426 (Jan 12 low).