AUD/USD capped at 0.7400, 100-DMA resistance

Despite of Thursday's sharp rebound from sub-0.7300 level, the AUD/USD pair remains well anchored below 100-day SMA strong resistance around 0.7400 handle. 

On Thursday, the Aussie benefitted from a sudden turnaround in the risk sentiment surrounding 'Brexit' after both sides in the UK-EU referendum suspended campaigns one week before the crucial vote on June 23 after the Jo Cox tragedy. Earlier on Thursday, the AUD/USD pair extended its reversal from 100-day SMA and dropped below 0.7300 level despite of the Fed inaction on Wednesday and better-than-expected Australian employment numbers on Thursday.

On the last trading day of the week, the pair continued with its struggle to move back above 100-day SMA. However, a convincing break above this important resistance seems to open room for an immediate up-move for the pair.

Technical levels to watch

On the upside, 100-day SMA (0.7400 region) is followed by resistance near 0.7450, which if conquered now seems to assist the pair to surpass 0.7500 handle and head towards testing its next major resistance near 0.7580-85 area.

On the flip side, weakness back below 0.7300 handle seems to drag the pair towards retesting 200-day SMA important support near 0.7275-70 region. A follow through selling pressure below 200-day SMA would open room for a fresh leg of downfall for the pair towards retesting May daily closing lows support near 0.7185-80 region.