AUD/USD climbs above 0.7500

AUD/USD broke above the 0.75 mark and reached its highest level in seven weeks as the Aussie continues to benefit from the recovery in commodities and the increasing likelihood of ‘Bremain’.

AUD/USD peaked at 0.7516, roughly at the same level it did on May 4, and currently trades slightly below that level as the greenback underperforms across the board following Yellen testimony and ahead of the UK referendum. At time of writing, the pair is trading at 0.7503, recording a 0.72% gain on the day.

AUD/USD levels to watch

In terms of technical levels, next resistances could be found at 0.7517 (May 4 high) and 0.7555 (Apr 27 low). On the flip side, supports are seen at 0.7430 (50-day SMA), 0.7410 (100-day SMA) and 0.7360 (Jun 17 low).