AUD/USD turns neutral at 0.7185

Having posted a session low near 0.7170 region, the AUD/USD pair has managed to recover its lost ground and is now attempting a move back towards 0.7200 handle. 

Currently trading around 0.7185-90 region, testing session peak, bears seemed to lock-in some profits following the pair's recent sharp slide to nearly seven month low amid quiet trading on the back of a holiday in many countries, including Australia. 

Moreover, a mild recovery in Copper prices might have also collaborated to the pair's recovery in the past couple of hours. 

Later during NA session, the release of Conference Board's consumer confidence index for December would now be looked upon for some short-term trading opportunities.

Technical levels to watch

A follow through recovery momentum above 0.7200 handle has the potential to lift the pair towards 0.7240 horizontal resistance, en-route 0.7260-65 strong hurdle. On the downside, weakness below session low support near 0.7170 region now seems to drag the pair towards 0.7150-45 region, which if broken opens room for continuation of the pair's near-term downward trajectory.