AUD/USD turns positive above 0.7500 amid thin trades

By FXStreet The AUD caught fresh bid tone over the last hour, sending AUD/USD back above 0.75 handle amid a lack of fresh fundamental triggers as the Australian markets remain closed on account of Easter Monday.

AUD/USD testing 5-DMA at 0.7517

Currently, the AUD/USD pair trades modestly flat at 0.7512, having posted fresh daily highs at 0.7516, just shy of 5-DMA. The Aussie is seen making minor recovery attempts on 0.75 handle, bringing a pause to its three straight sessions of losses, as the US dollar appears to stall its bullish run ahead of a series of fresh US dataflow due later today.

More so, the renewed optimism seen on the Asian equities alongside a recovery in gold and copper prices also underpin the sentiment around the resource-linked Aussie.

Meanwhile, focus now remains on the US docket, with a string of crucial macro releases expected to flow in the week ahead. Fed Chair Yellen’s speech and the US payrolls data are likely to hog the limelight.

AUD/USD Levels to watch

The pair finds the immediate resistance at 0.7562/62 (1h 200-SMA/ 10-DMA/) above which gains could be extended to the next hurdle located at 0.7600 (round number). On the flip side, the immediate support …read more

Source:: FX Street