AUD/USD heading lower as Treasuries continue to climb, boosting the Greenback

• Treasury yields are crossing the 3% boundary, sending the US Dollar higher.
• Risk assets like the Aussie are caving under the pressure once again.

The AUD/USD is turning lower in the Tokyo trading session, dropping into 0.7590 as the US Dollar continues to get bolstered by rising bond yields in the US, with 10-year Treasuries cracking the 3% key level in the overnight session.

US 10-year treasury yield hovers around 3% in Asia

The Aussie has a quiet Wednesday lined up with the Australian markets off for the day in observance of the Anzac Memorial Day, but the AUD is still sliding against the Greenback as the Dollar rally tries to jumpstart the rally once again.

The upcoming New York session is also a data-light showing, and overall markets are focused on the Treasury yield curve, with equities sliding and the US Dollar gaining as traders fear a high-cost environment in the face of monetary policy tightening.

AUD/USD Levels to watch

Tuesday's pullback failed to start, and bidding for the Aussie is sputtering out as the Dollar continues to advance, and the pair is close to hitting fresh four-month lows, and as FXStreet's Flavio Tosti noted, "the main trend is bearish with bulls attempting a pullback. Supports are seen at 0.7550-0.7600 swing lows and at 0.7500 cyclical low. Resistances are priced in at the 0.7642 swing low and at the 0.7728 swing high."