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    AUD/USD pauses gains ahead of 0.7500

    The Australian dollar extended gains on Wednesday, having climbed to fresh 1-month highs, as the greenback continues to face pressure from fading hopes of a summer rate hike by the Fed.AUD/USD broke above the 50-day SMA and reached its highest level since May 5 at 0.7481, but lost momentum ahead of the 0.75 mark. At time of writing, the pair is trading at 0.7467, recording a 0.15% gain on the day.AUD/USD levels to watchIn terms of technical levels, next resistances could be found at 0.7516 (May 4 high), 0.7555 (Apr 27 low) and 0.7670 (May 2 high). On the flip side, supports are seen at 0.7429 (Jun 8 low), 0.7375 (100-day SMA) and 0.7315 (Jun 6 low).

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