The pair traded within a range after the sharp decline below the 0.7100 area and is now attempting to recover from the lower support zone. AUD/USD has bounced from the recent low, but the broader H1 trend remains defensive while the price stays below the former breakdown area, making the Pivot important for the full-day direction.
Current price: 0.70611
Pivot: 0.7052
Nearest support levels:
S1: 0.7040
S2: 0.7020
S3: 0.7000
Nearest resistance levels:
R1: 0.7075
R2: 0.7095
R3: 0.7120
Note:
Above Pivot: holding above 0.7052 may support a continuation of the rebound toward 0.7075. A breakout above this level may extend the correction toward 0.7095 and 0.7120.
Below Pivot: if AUD/USD falls below 0.7052, the recovery may fade and the pair may return toward 0.7040. A break below this support may expose 0.7020 and 0.7000.
