AUD/USD upside capped near 0.7680

The upside momentum in the Aussie dollar seems to have found strong resistance near 0.7680, prompting AUD/USD to the current 0.7670/65.

AUD/USD attention to RBA

The pair is recovering part of the ground lost on Friday’s pullback, coming up from lows in the 0.7630 area and bolstered by a continuation of the selling bias in the US Dollar.

The strong upside in spot seems to be taking a breather after last week’s multi-month tops in the mid-0.7700s, while AUD will remain under scrutiny in the very near term as the RBA will publish its minutes from the last meeting early tomorrow in Asia.

AUD/USD levels to watch

At the moment the pair is advancing 0.33% at 0.7671 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 0.7584 (20-day sma) followed by 0.7492 (low Jul.6) and then 0.7417 (low Jul.27).