AUD/USD back in the red around 0.7500, risk-off weighs

The AUD/USD pair stalled the overnight recovery near 0.7520 region, and drifted lower post-Tokyo open as a renewed bout of risk-aversion hit the markets, while poor domestic data also dented the sentiment around the major.

AUD/USD sold-off just shy of 20-DMA at 0.7526

Currently, the AUD/USD pair trades modestly flat at 0.7502, re-attempting recovery above 0.75 handle. The Aussie is seen making minor-recovery attempts as the bears fight back control amid persistent risk-off moods across the markets, weighing down on the higher-yielding currency AUD.

Moreover, weaker copper prices combined with dismal Aus MI leasing index numbers, also added to the renewed weakness in the AUD/USD pair. While speculations of a RBA rate cut next month also continues to cap any recovery in the Aussie.

However, the losses remain restricted in response to higher Australian equities, extending higher on RBA easing hopes. Next of note for the major remains the US crude inventories data due later today amid a lack of relevant economic data from both continents.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7526 (20-DMA) above which gains could be extended to the next hurdle located at 0.7551/70 (5 & 10-DMA). On the flip side, the immediate support located at 0.7477/76 (Daily low & 100-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7423 (50-DMA).