AUD/USD keeps the red below 0.7600 handle

   •  Today’s disappointing Chinese macro data prompts some fresh selling.
   •  A goodish USD rebound/risk-off mood adds to the downward pressure. 
   •  All eyes remain glued to the key G7 summit in Canada.

The AUD/USD pair held on to its weaker tone through the early North-American session, albeit has managed to rebound around 20-30 pips from session lows touched in the last hour.

The pair extended overnight rejection slide from 100-day SMA hurdle and traded with a bearish bias for the second consecutive session. Today's disappointing Chinese trade surplus data was seen as one of the key factors weighing on the China-proxy Australian Dollar. 

This coupled with a goodish US Dollar rebound exerted some additional downward pressure and further collaborated to the pair's slide to an intraday low level of 0.7561. Moreover, the prevalent cautious sentiment across global financial markets further benefitted the greenback's safe-haven demand against the perceived riskier currencies - like the Aussie. 

There aren't any major market-moving economic releases due from the US. Hence, the incoming news/headline from the key G7 summit might influence the USD price dynamics and eventually provide some meaningful impetus on the last trading day of the week. 

Technical levels to watch

A follow-through weakness below 0.7560 level (weekly low) is likely to accelerate the slide towards 0.7515 intermediate support en-route the key 0.7500 psychological mark. On the upside, the 0.7600-0.7610 area now seems to act as an immediate resistance, which if cleared could assist the pair to make a fresh attempt towards clearing 100-day SMA barrier near the 0.7665-75 region.