The pair traded within a strong recovery structure and enters May with a bullish intraday bias, although upside momentum has started to cool near the top of the recent range. AUD/USD rebounded sharply from the 0.7100 area and managed to reclaim the 0.7180–0.7190 zone, where price is now consolidating. This is important because the market has shifted from recovery mode into a test of whether buyers can actually hold control in the upper band.
For the full trading day, the 0.71820 region acts as the main pivot. While the pair remains above it, the structure still supports another attempt higher, even if that move first unfolds through a slow grind rather than an immediate breakout. If the market slips back below the pivot, the current rise may fade into a broader correction, especially since the pair already made a sizable run into resistance during the previous session.
Current price: 0.71918
Pivot: 0.71820
Nearest support levels: S1: 0.71700, S2: 0.71540, S3: 0.71320
Nearest resistance levels: R1: 0.72020, R2: 0.72200, R3: 0.72440
Note:
Above Pivot: If the pair holds above 0.71820, buyers may continue to press toward 0.72020 and 0.72200. If the new-month rebound strengthens through the day, the next upside target may come at 0.72440.
Below Pivot: If the pair falls below 0.71820, the market may rotate lower toward 0.71700 and 0.71540. A broader daily correction would then expose 0.71320.
