AUD/USD Technical Analysis: Trims a part of the post-RBA upsurge, retests 200-hour SMA resistance turned support

   •  The pair trimmed a part of its post-RBA upsurge to near one-week tops, albeit has managed to hold its neck comfortably above the key 0.70 psychological mark.

   •  Today's strong up-move lifted the pair beyond 200-hour SMA for the first time in over three weeks and should act as a key trigger for short-term bullish traders.

   •  Technical indicators on hourly charts have been gaining positive traction, adding credence to the constructive outlook, and support prospects for further gains.

   •  However, oscillators on the daily chart are yet to catch up with the recovery move and might cap additional gains amid renewed US-China trade tensions. 

   •  Hence, it would be prudent to wait for a follow-through buying beyond the 0.7055-60 supply zone before positioning for any further near-term appreciating move. 

AUD/USD 1-hourly chart