AUD/USD finds support ahead of 0.7500

AUD/USD fell sharply on Tuesday and hit fresh 3-week lows at the beginning of the New York session, as the dollar keeps the bid tone across the board amid expectations of a rate hike by the Fed before the year-end.

AUD/USD lost nearly 100 pips from Monday’s highs and scored a low of 0.7535 before finding support and recovering slightly. However, the subsequent bounce has remained capped by the 0.7560 zone so far. At time of writing, the pair is trading at 0.7553, 0.68% below its opening price. 

There are no first-tier data scheduled for the New York session although liquidity is expected to return following the Columbus Day holiday.

AUD/USD levels to consider

As for technical levels, next supports are seen at 0.7535 (Oct 11 low), 0.7525 (100-day SMA) and 0.7500 (psychological level). On the other hand, resistances could be faced at 0.7622 (10-day SMA), 0.7690 (Oct 4 high) and 0.7731 (Sep 8 high).