AUD/USD retreats from tops, once again fails to sustain above 0.77 handle

   •  A renewed uptick in the US bond yields helps revive USD demand.
   •  Positive copper prices fail to extend any support to the Aussie. 
   •  Traders now eye Fedspeaks for some short-term trading impetus.

The AUD/USD pair trimmed some of its early gains and has now retreated around 25-pips from session tops touched earlier today.

The pair once again failed to build on its up-move beyond the 0.7700 handle and was now being weighed down by a goodish pickup in the US Dollar demand. With investors looking past today's neutral RBA decision, which turned out to be a non-event, some renewed uptick in the US Treasury bond yields helped revive the USD demand and prompted some fresh selling around higher-yielding currencies - like the Aussie.

Meanwhile, a mildly positive trading sentiment around commodity prices, especially copper, did little to lend any support to the commodity-linked Australian Dollar, with the USD price dynamics acting as an exclusive driver of the pair's momentum through the mid-European session on Tuesday.

There aren't any major market-moving economic releases due from the US and hence, traders will look forward to comments by FOMC members - Minneapolis Fed President Neel Kashkari and Governor Lael Brainard, for some short-term trading impetus.

Technical levels to watch

Any subsequent retracement might continue to find some support near mid-0.7600s, below which the pair could head towards testing the 0.7600 round figure mark. On the flip side, the 0.7700-0.7710 region remains an immediate strong hurdle, which if cleared might prompt some short-covering move towards 0.7745-50 supply zone.