AUD/USD subdued into Asia, awaits catalyst for 0.76 handle

Currently, AUD/USD is trading at 0.7566, down -0.05% on the day, having posted a daily high at 0.7572 and low at 0.7566.

AUD/USD is consolidating in early Asia, leaving off from where the US session handed over a subdued state of play. This follows a large opening gap from yesterday's results of the first round of the French elections, leaving Macron the favourite to win the second round of presidential elections as a centralist that the entire globalists support over Le Pen. 

Markets get carried away with Macron

This event resulted in risk-on mode from the get-go, although the Aussie was still capped below the psychological 0.76 handle, weighed particularly by base metals Friday's closing prices, that, incidentally, have been recovering to some degree at the start of this week. AUD/USD's key events this week come in Aussie CPI, US durable goods and first estimates of US GDP Q1. There will also be political risks in the US Congress when they meet to decide upon the US debt ceiling. Trump has also promised to deliver his sweeping tax plans as his first 100 days draw closer. 

AUD/USD levels

AUD/USD is stuck within a range April boundaries between 0.7473/0.7610. The April high and the 55-day moving average is located at 0.7610/15 and while below there, analysts at Commerzbank suggest the downside risk remains in play.  A break higher, mind you, looks to the 2nd April highs at 0.7640 and 0.7680 late March highs. On the flip side, we have 0.7500 psychological level before 0.7480 and 0.7400.