The pair traded within a range after the previous bearish correction lost force and the market started to build a recovery from the lower edge of the recent structure. On H1, AUD/USD has regained some ground, but the rebound is still fighting against the remains of the earlier downward channel, which means the pair needs follow-through above resistance to confirm a broader bullish intraday reversal.
For the full trading day, the market is at an important balancing point. If buyers keep control above the current base, the pair may continue to repair the previous decline. If not, the current rebound can fade into another sideways-to-bearish swing inside the broader daily range.
Current price: 0.71597
Pivot: 0.71540
Nearest support levels: S1: 0.71420, S2: 0.71240, S3: 0.71060
Nearest resistance levels: R1: 0.71720, R2: 0.71890, R3: 0.72080
Note:
Above Pivot: If the pair stays above 0.71540, buyers may extend the rebound toward 0.71720 and 0.71890. If upside momentum holds through the day, the next broader target may come at 0.72080.
Below Pivot: If the pair falls back below 0.71540, the recovery may weaken toward 0.71420 and 0.71240. A wider intraday pullback may then open the way to 0.71060.
