AUD/USD holding gains above 0.7600 handle

After Tuesday's pause, the AUD/USD pair resumed with its near-term bullish traction and jumped to session high near 0.7625 region before retracing few pips to currently trade around 0.7615 region. 

The major's reaction from session high could be attributed to disappointing Australian retail sales data, which posted a monthly growth of 0.1% for June as compared to 0.3% rise expected and 0.2% recorded in the previous month. 

Meanwhile, cautious sentiment around equity markets seems to drive investors to traditional safe-haven and is seen restricting higher-yielding currencies - like the Aussie.

Attention now shifts to today's US economic releases, which includes - weekly jobless claims and factory orders. Meanwhile, major focus would remain focused on Friday's monthly jobs report from the US (NFP), which would assist investors to determine the pair's near-term direction.

Technical levels to watch

Immediate resistance is pegged at 0.7638 (August 2 high), above which the momentum could get extended towards 0.7676 (July 15 high). On the flip side, 0.7585-80 area seems to act as immediate support, which if broken now seems to drag the pair initially towards 0.7530 intermediate support ahead of 100-day SMA strong support near 0.7490 region.