AUD/USD drops lower, testing 0.7500

The Aussie dollar is extending its bearish note on Monday, now relegating AUD/USD to the 0.7500 neighbourhood, or 2-week lows.

AUD/USD looks to Fedspeak, data

The pair is trading in fresh 2-week lows in the vicinity of the 0.7500 handle today, extending the drop for the fourth session in a row after reaching tops near 0.7740 during last week.

Later in the session, USD will take centre stage in light of the speeches by Atlanta Fed D.Lockhart (non voter, dovish), N.Kashkari (voter in 2017) and the most dovish FOMC member L.Brainard (voter), all against the backdrop of rising speculations on the timing (and likeliness) of a Fed’s rate hike in the next months.

In Oz, the speech by RBA’s Kent is due early tomorrow followed by confident gauged tracked by NAB.

AUD/USD levels to watch

At the moment the pair is losing 0.46% at 0.7506 facing the next support at 0.7488 (low Aug.31) followed by 0.7417 (lo Jul.27) and then 0.7397 (200-day sma). On the other hand, a breakout of 0.7576 (55-day sma) would aim for 0.7595 (20-day sma) and finally 0.7736 (high Sep.8).