AUD/USD Technical Analysis: Bulls await a sustained move beyond 0.7130 horizontal resistance

   •  The pair struggled to build on overnight strong up-move and once again met with some supply near the 0.7130 region, albeit the retracement slide remained limited.

   •  The fact that the pair has found acceptance above 200-hour SMA support prospects for an extension of the near-term recovery move from 32-month lows.

   •  Positive technical indicators on the mentioned chart further add credence to the constructive outlook and possibilities of a near-term bullish breakout.

   •  However, it would be prudent to wait for a convincing breakthrough the 0.7130 resistance before traders start positioning for any further appreciating move.
 

AUD/USD 1-hourly chart