The pair traded within a broad upside recovery and enters the week near the top of the recent range. AUD/USD rebounded strongly from the late-April trough and managed to reclaim the 0.7190–0.7200 region, where the market is now trying to stabilize. The advance has clearly changed the short-term structure from bearish to constructive, but the pair is also approaching an area where upward momentum has started to flatten. That combination supports a bullish intraday bias, though likely with pauses rather than uninterrupted acceleration.
For the full trading day, the 0.71980 area is the key pivot. If price remains above it, buyers retain the advantage and can keep pressing toward the upper resistance cluster. A move below the pivot would not immediately destroy the broader recovery, but it would suggest that the pair is entering a deeper correction phase before any further upside attempt. The most important thing today is whether buyers can defend the upper part of the range after the strong late-April rebound.
Current price: 0.72073
Pivot: 0.71980
Nearest support levels: S1: 0.71860, S2: 0.71700, S3: 0.71480
Nearest resistance levels: R1: 0.72180, R2: 0.72350, R3: 0.72580
Note:
Above Pivot: If the pair holds above 0.71980, buyers may continue to press toward 0.72180 and 0.72350. If bullish momentum strengthens later in the day, the next upside target may come at 0.72580.
Below Pivot: If the pair slips below 0.71980, the market may rotate lower toward 0.71860 and 0.71700. A broader daily correction would then expose 0.71480.
