The Australian dollar maintains bullish near-term bias and extends recovery, holding in green for the fourth straight day. Signals of easing US/China trading tensions keep risk on mode and underpin recovery. Renewed probe above cracked 100SMA (0.7228) expose pivotal barrier at 0.7260 (Fibo 38.2% of 0.7393/0.7177, reinforced by 20SMA), break of which would generate bullish signal for extension of recovery leg from 0.7177 (10 Dec low). Neutral momentum on daily chart warns that bulls may run out of steam, while repeated close below 100SMA would add to negative signals and keep the downside vulnerable.
Res: 0.7250, 0.7260, 0.7285, 0.7311
Sup: 0.7228, 0.7208, 0.7195, 0.7186
