• The pair stalled its disappointing Chinese manufacturing PMI-led intraday slide and managed to find decent support near 100-hour SMA amid some renewed USD weakness.
• However, given the overnight break through a short-term ascending trend-channel support, bearish oscillators on the daily chart might keep a lid on any subsequent up-move.
• Meanwhile, technical indicators on hourly charts have already recovered from the negative territory and support prospects for an extension of the intraday positive momentum.
• A follow-through buying has the potential to lift the pair further beyond intraday swing high but seems more likely to remain capped/sold into near the 0.7080 horizontal resistance.
AUD/USD 1-hourly chart