AUD/USD Technical Analysis: Bulls await a convincing breakthrough an ascending trend-channel hurdle

   •  The pair stalled its intraday positive momentum and started retreating from a resistance marked by a short-term ascending trend-channel, held over the past 24-hours or so.

   •  Meanwhile, technical indicators on hourly charts support prospects for an extension of the upward trajectory and have also started gaining positive momentum on the daily chart. 

   •  The set-up clearly suggests that any meaningful dips towards the trend-channel support, currently near the 0.7220 region, are likely to be utilized as a buying opportunity.

   •  Only a sustained break through the mentioned support might negate the near-term positive outlook and turn the pair vulnerable to extend its retracement slide from over 5-week tops.
 

AUD/USD 1-hourly chart