AUD/USD Technical Analysis: Manages to defend ascending trend-line support, at least for now

   •  The pair stalled last week's retracement slide from over one-week tops and caught some fresh bids near a short-term ascending trend-line support at the start of a new trading week. 

   •  The mentioned support coincides with 61.8% Fibonacci retracement level of the 0.7085-0.7215 last week's up-move, with traders shrugging off reports that US-China trade tensions may escalate.

   •  The pair has now recovered to trade back above a confluence region - comprising of the 100/200-hour moving averages and 50% Fibo. level, supporting prospects for additional intraday gains.

   •  However, the pair's inability to hold/sustain any move beyond the 0.7200 handle clearly indicates that the near-term selling bias might still be far from over. 

AUD/USD 1-hourly chart

Spot Rate: 0.7158
Daily Low: 0.7142
Trend: Intraday bullish

Resistance
R1: 0.7174 (38.2% Fibo. level)
R2: 0.7200 (round figure mark)
R3: 0.7241 (R2 daily pivot-point)

Support
S1: 0.7142 (current day swing low)
S2: 0.7129 (S1 daily pivot-point)
S3: 0.7100 (round figure mark)