AUD/USD finds some support ahead of 200-DMA, struggles near 2018 lows

The AUD/USD pair reversed early lost ground to fresh 2018 lows and is currently trading with minor gains, off around 30-pips from lows. 

The pair stalled its recent bearish slide and found some buying interest ahead of the very important 200-day SMA support amid mildly softer tone surrounding the US Dollar. 

A second US government shutdown kept the USD bulls on the defensive through the Asian session and prompted some short-covering move, especially after the recent fall of over 350-pips over the past two-weeks. 

Meanwhile, the latest news that a legislation to keep the US government operating, increase spending through 2019, has cleared a procedural hurdle in Senate, did little to influence the movement, albeit contributed towards capping any meaningful rebound.

Today's economic docket lacks any major market-moving economic releases and hence, the USD price dynamics might continue to act as an exclusive driver of the pair's momentum on the last trading day of the week. 

Technical levels to watch

A follow-through recovery beyond the 0.7800 handle is likely to confront resistance near the 0.7820-25 region, above which a fresh bout of short-covering could lift the pair back towards 50-day SMA hurdle near the 0.7860 zone.

On the flip side, the 200-day SMA near mid-0.7700s might continue to extend some immediate support, which if broken might turn the pair vulnerable to break below the 0.7700 handle and head towards testing its next support near 0.7665-60 area.