The pair traded within an extended bullish continuation and starts Thursday close to the top of the current daily range. AUD/USD recovered sharply from the 0.7140 area and then accelerated toward 0.7260, where the market is now consolidating slightly below the recent peak. This is a strong structure for the whole day because the pair has preserved most of the gains after the breakout and continues to print elevated intraday lows rather than giving back the move.
For the session ahead, buyers need to keep price above the pivot and defend the upper consolidation zone. If they do, the market may attempt another push higher and extend the daily trend. If the pair slips below the pivot, the first signal would be that the latest rally is moving into a broader correction phase rather than immediate continuation. So the bias remains bullish, but the market is already stretched enough that support protection becomes critical.
Current price: 0.72447
Pivot: 0.72390
Nearest support levels: S1: 0.72260, S2: 0.72080, S3: 0.71820
Nearest resistance levels: R1: 0.72580, R2: 0.72740, R3: 0.72980
Note:
Above Pivot: If the pair remains above 0.72390, buyers may continue the advance toward 0.72580 and 0.72740. If momentum strengthens during the day, the next upside target may come at 0.72980.
Below Pivot: If the pair falls back below 0.72390, a broader pullback may develop toward 0.72260 and 0.72080. A deeper daily correction would then expose 0.71820.
