AUD/USD little changed on the day, paring earlier gains as the dollar firms
The more positive risk tilt in recent days is helping to keep the aussie slightly underpinned, as it also catches a bit of a reprieve after falling against the dollar last week.
That said, the mild bounce so far this week hasn't led to much. The pair has moved back above 0.7600 and the 100-hour moving average (red line) but sellers are still keeping a lid on gains with the 200-hour moving average (blue line) in play.
That is seen @ 0.7674 currently and adding to that is resistance from the 38.2 retracement level @ 0.7672. As such, buyers need to break above that region in order to break the recent hold established by sellers.
Looking at downside levels, the 100-hour moving average @ 0.7615 is the first key point before retesting 0.7600 for sellers. The 100-day moving average is also seen @ 0.7618 so that is also a key technical level to watch in trading this week.
In the bigger picture, the 2 February low @ 0.7564 is going to be one to watch as that could see a quick push towards 0.7500 if it gives way moving forward.
