AUD/USD remains under bearish pressure after the rejection from the 0.7015–0.7020 resistance area. The strong decline on July 23 pushed the pair below 0.6990 and resulted in a local low near 0.6958.
The subsequent rebound has stalled below 0.6980, indicating that buyers have not yet regained control. The area around 0.6990 now acts as the main intraday dividing level. While the pair remains below it, another test of 0.6960 is likely. A break below 0.6960 may extend the decline towards 0.6940 and 0.6920.
A recovery above 0.6990 would allow the pair to correct towards 0.7005. A stronger bullish reversal would require a return above 0.7020.
Current price: 0.69750
Key intraday level: 0.6990
Support levels:
- S1: 0.6960
- S2: 0.6940
- S3: 0.6920
Resistance levels:
- R1: 0.6990
- R2: 0.7005
- R3: 0.7020
Daily scenario:
- Below 0.6990: downside pressure remains dominant, with targets at 0.6960 and 0.6940.
- Above 0.6990: a corrective recovery towards 0.7005 becomes possible.
Expected working range: 0.6940–0.7005.
