AUD/USD Technical Analysis: Recovers early lost ground to 32-month tops, NFP in focus

   •  The pair has managed to rebound around 20-25 pips from fresh 32-month lows and in the process managed to clear a descending trend-line resistance on the 1-hourly chart. 

   •  The said trend-line constituted towards the formation of a bullish falling-wedge chart pattern formation, suggesting that the pair might have already bottomed out near mid-0.7000s.

   •  On the mentioned chart, mixed technical indicators haven't been supportive of the bullish formation and hence, any subsequent up-move seems more likely to be capped at 100-hour SMA.

   •  The upcoming release of the keenly watched US monthly jobs report (NFP) will play an important role in determining the pair's next leg of directional move. 

AUD/USD 1-hourly chart