AUD/USD in 4-month highs near 0.7750

The Aussie dollar is prolonging its upside today, sending AUD/USD to print fresh multi-month peaks around 0.7750.

AUD/USD gains bolstered by USD softness

The greenback continues to shed ground vs. its main competitors on Wednesday, helping spot to extend its positive streak for the third session to levels well above the 0.7700 mark, or fresh 4-month tops.

In Oz, and at his last speech as RBA Governor, G.Stevens called for further efforts from the fiscal sector in order to collaborate with the economic growth. On the data front, Consumer Sentiment gauged by Westpac rose to 2.0% in August while Home Loans expanded below estimates 1.2% MoM in June.

Later in the day, the RBNZ rate decision will be the main highlight in the Asia-Pac region, with consensus expecting the central bank to lower its benchmark rate by 25 bp.

AUD/USD levels to watch

At the moment the pair is advancing 0.96% at 0.7746 facing the next up barrier at 0.7836 (2016 high Apr.21) followed by 0.7851 (high Jun.21 2015) and finally 0.8029 (high Apr.29 2015). On the other hand, the next support aligns at 0.7568 (20-day sma) followed by 0.7492 (low Jul.6) and then 0.7417 (low Jul.27).