AUD/USD holding steady near 0.7575 as the new week opens quietly

• The Aussie opens the week looking up a steep cliff after falling for two straight weeks.
• Monday sees low-impact news before the RBA's Tuesday rate decision.

The AUD/USD heads into a new week still trading near 0.7575, the level that Friday's bounce back against the USD managed to hit following a string of heavy losses against the US Dollar.

The Aussie appears to have hit a bottom against the Greenback, after declining from April's high of 0.7812 in a little under two weeks. 

Monday sees the TD Securities inflation for Australia at 01:00 GMT, followed by Private Sector Credit figures at 01:30. Securities Inflation last printed a 2.1% increase on the year-on-year figure, while month-over-month Private Sector Credit is expected to increase by 0.4% for March, matching the previous figure. 

The Reserve Bank of Australia's (RBA) Governor, Philip Lowe, will also be speaking at the RBA's Reserve Bank Board Dinner, but the exact time has yet to be nailed down.

Volumes in the Aisa-Pacific market session are going to be restrained for Monday with Japan and China off for holidays.

AUD/USD analysis: still at risk of breaking below 0.7500

AUD/USD Technicals

The target for Aussie bulls to beat is the critical 0.7500 level, and as FXStreet's own Valeria Bednarik noted, they may have a hard fight getting there: "despite closing higher on Friday, the AUD/USD pair fell for a second consecutive week, and the daily chart shows that the slide is set to continue, given that technical indicators have barely bounced from oversold readings, while the pair is well below all of its moving averages, with the 20 DMA gaining bearish strength around 0.7690. The pair has a major support at 0.7500, as it bottomed there last December. A break below it should result in a downward continuation toward 0.7250 these upcoming days. In the 4 hours chart, the price settled a handful of pips above its 20 SMA for the first time in over a week, the Momentum indicator heads north around its mid-line, but the RSI lost its bullish strength and gyrated south, currently at 44, these last limiting chances of a stepper recovery. A steady advance beyond 0.7620, however, could see the pair recovering further ground, but sellers will likely add on spikes."

Support levels: 0.7535 0.7500 0.7470

Resistance levels: 0.7590 0.7620 0.7660