AUD/USD hovers above 0.7700, muted after US data

The Australian dollar extended gains into a fourth consecutive day against the greenback, spiking to its highest level in over 3-months during the Asian session.

AUD/USD reached a high of 0.7759, last seen Jul 27, but gave up some of its gains and settled in a limited range over the last hours, with the downside contained by the 0.7690 zone. At time of writing, the pair is trading at 0.7719, till up 0.21% on the day.

AUD/USD remained muted after the latest string of US data, which showed jobless claims inched down to 266K in the week ended Aug 5, but stood slightly above the 265K expected, while import price index rose 0.1% in July, against expectations for a 0.3% decline.

AUD/USD levels to watch

In terms of technical levels, next supports are seen at 0.7690 (Aug 11 low), 0.7661 (Aug 10 low) and 0.7630 (10-day SMA). On the flip side, resistances could be found at 0.7765 (Jul 26 & 27 high), 0.7800 (psychological level) and 0.7834 (Apr 21 high).