The AUD/USD pair struggled to capitalize on its goodish intraday bounce from the vicinity of the 0.7600 mark and quickly retreated over 25 pips from daily tops. The pair was last seen trading around the 0.7635-40 region, nearly unchanged for the day.
Having found some support ahead of one-month lows touched last Thursday, the pair gained some traction on the first day of a new trading week amid a goodish rebound in the US equity futures. The retail-inspired pressure on hedge funds now seems to have shifted towards silver, which, in turn, eased pressure on equity markets. This was seen as a key factor that benefitted the perceived riskier aussie.