AUD/USD flirting with highs near 0.7740

The softer tone in the greenback has lifted AUD/USD to the area of fresh highs around 0.7780 on Tuesday.

AUD/USD boosted by USD selling

AUD remains well bid against the backdrop of a broad-based selling mood in the US dollar, in line with the rest of the risk-associated space and USD-denominated assets.

AUD has quickly recovered from overnight lows in the mid-0.7600s following the absence of relevant news from the RBA minutes, which suggested the recent cut was oriented to improve growth and inflation prospects.

Ahead in the NA session, the US docket will keep the greenback under pressure ahead of the speech by FOMC’s Lockhart (neutral, non-voter)

AUD/USD levels to watch

At the moment the pair is advancing 0.73% at 0.7729 facing the next up barrier at 0.7757 (high Aug.10) followed by 0.7836 (2016 high Apr.21) and then 0.7851 (high Jun.21 2015). On the other hand, the next support aligns at 0.7633 (low Aug.15) followed by 0.7588 (20-day sma) and then 0.7507 (55-day sma).