AUD/USD breaks below 100-DMA support

The AUD/USD pair maintained its offered tone, led by disappointing Chinese trade balance data, and has now dropped to a fresh session low. 

Currently trading below 100-day SMA, at fresh session low around 0.7520 region, the pair dropped to nearly one month low after Chinese trade surplus for the month of September fell more-than-expected. Being Australia's biggest trading partner, weaker Chinese economic data tends to weigh on the Australian Dollar. 

Moreover, market expectations of an eventual Fed rate-hike action by the end of this year was reaffirmed by Wednesday's release of FOMC meeting minutes and is exerting further selling pressure around higher-yielding currencies - like the Aussie. 

Adding to this, the prevalent risk-off sentiment is driving investors towards the perceived safety of the US Dollar and restricting any recovery for the major. 

Next of relevance would be weekly jobless claims data from the US, due later during NA session, and would be looked upon for short-term trading opportunities. 

Technical levels to watch

A follow through selling pressure below 100-day SMA seems to accelerate the slide immediately towards 0.7500 psychological mark, which if broken would turn the pair vulnerable to extend its downward trajectory towards 0.7450-40 support area marking the very important 200-day SMA region.

On the flip side, any recovery attempt above 0.7535 immediate resistance is likely to confront strong resistance near 0.7560 region above which the pair is likely to stage a goodish recovery towards 50-day SMA major resistance near 0.7600 handle.