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   “¢   The pair stalled this week’s rejection slide from the 0.7200 handle and managed to stage a goodish bounce from support marked an ascending trend-line extending from Feb. 11-12.

   “¢   The recovery move lacked any obvious catalyst and could be solely attributed to some short-covering from slightly oversold conditions on the 1-hourly chart amid a modest USD pull-back.

   “¢   Meanwhile, technical indicators on hourly/daily charts are yet to catch up with the positive momentum and thus, warrant some cautions for bullish traders before placing any aggressive bets.

   “¢   The up-move seems more likely to run out of steam, rather meet with some fresh supply near 50-period and 200-period SMA on the 4-hourly chart, around the 0.7140-50 supply zone.

AUD/USD 1-hourly chart


       Today Last Price:  0.7115
       Today Daily change:  21  pips
       Today Daily change %:  0.30%
       Today Daily Open:  0.7094
       Daily SMA20:  0.714
       Daily SMA50:  0.7132
       Daily SMA100:  0.7164
       Daily SMA200:  0.7255
       Previous Daily High:  0.7167
       Previous Daily Low:  0.709
       Previous Weekly High:  0.7207
       Previous Weekly Low:  0.707
       Previous Monthly High:  0.7285
       Previous Monthly Low:  0.7053
       Daily Fibonacci 38.2%:  0.7119
       Daily Fibonacci 61.8%:  0.7137
       Daily Pivot Point S1:  0.7066
       Daily Pivot Point S2:  0.7039
       Daily Pivot Point S3:  0.6989
       Daily Pivot Point R1:  0.7144
       Daily Pivot Point R2:  0.7194
       Daily Pivot Point R3:  0.7221