The weak capex outlook led downslide in the Aussie halted just below hourly 200-SMA, and from there the prices rebounded higher, now heading towards 0.72 handle. AUD/USD catches bid on oil recovery Currently, the AUD/USD pair trades -0.25 lower at fresh session lows of 0.7179, recovering from a dip to 0.7157 lows, near hourly 200-SMA at 0.7162. The Aussie is seen attempting a minor recovery from key support on the back of the modest rebound seen in the oil prices, while positive close on the Australian stock markets also lifted the sentiment around the AUD. However, the recovery looks short-lived as markets continue to weigh the weak Aus capex outlook, as reflected by the private capital expenditure data released earlier on the day. Although the capex for Q4 2015 came in at +0.8% q/q vs -3.0% expected, the first estimate of 2016/17 capex came at A$82.6 bln, which is 19.5% lower than estimate 1 for 2015-16. Meanwhile, the major will continue to get influenced by the moves in the black gold as also the sentiment on the European stocks, before the release of the US durable goods orders data due in the NY session. AUD/USD Levels to watch The pair finds the immediate resistance at 0.7200/07 (round number/ daily high) above which gains could be extended to the next hurdle located at 0.7247/50 (Feb 22 High/ psychological levels). On the flip side, the immediate support located at 0.7157/40 (1h 200-SMA/ 20-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7113/0.7100 (daily S2). For more information, read our latest forex news.