AUD/USD finds support around 0.7580, 2018 lows

• The Aussie Dollar remains under pressure around the 0.76 handle.
• AU headline inflation figures came in below expectations.
• The pair stays vulnerable amidst the solid tone in the buck.

After dropping to the vicinity of 0.7580 in early trade, AUD/USD has managed to regain some buying bias and has now retaken the 0.7600 handle and above.

AUD/USD in multi-month lows

The pair is so far reverting three consecutive daily pullbacks, up smalls after record fresh yearly lows in the 0.7585/80 band during early trade and always against the backdrop of increasing demand for the greenback.

In addition, AUD was under pressure earlier in the day after headline inflation figures in Australia rose 0.4% in the first quarter (vs. 0.5% expected) and 1.9% on an annualized basis (vs. 2.0% forecasted).

In the meantime, the pair is navigating the lower end of the range in the 0.7600 neighbourhood following the rejection from April tops beyond 0.7800 the figure, coincident with the key 200-day sma (today at 0.7814).

Looking ahead, the US docket includes the S&P/Case-Shiller Index, New Home Sales and the CB’s Consumer Sentiment for the month of April.

AUD/USD levels to watch

At the moment the pair is up 0.12% at 0.7614 and a break above 0.7707 (10-day sma) would aim for 0.7772 (55-day sma) and then 0.7814 (high Apr.19). On the other hand, the next down barrier aligns at 0.7580 (2018 low Apr.24) seconded by 0.7530 (low Nov.21 2017) and finally 0.7500 (low Dec.8 2017).