The pair traded within a strong bullish recovery from the early-May low, but the last phase shows a correction from the local top rather than a trend reversal. AUD/USD rallied sharply toward the 0.7260–0.7270 area, then pulled back and is now holding in the 0.7220–0.7230 zone. For the full day, this is still a relatively constructive pattern because the correction has so far remained orderly and has not erased the broader rebound structure.
The session will likely revolve around whether the pair can hold above the pivot and rebuild demand from the current range. A stable move above the pivot would keep the door open for another attempt toward the recent highs. A break lower would shift the pair into a wider correction and expose deeper supports from the previous climb. So the daily bias stays moderately bullish, but buyers need to show that the latest pullback has already matured.
Current price: 0.72271
Pivot: 0.72220
Nearest support levels: S1: 0.72080, S2: 0.71920, S3: 0.71680
Nearest resistance levels: R1: 0.72420, R2: 0.72620, R3: 0.72880
Note:
Above Pivot: If the pair holds above 0.72220, buyers may try to extend the recovery toward 0.72420 and 0.72620. If bullish momentum strengthens during the day, the next upside target may come at 0.72880.
Below Pivot: If the pair drops below 0.72220, a broader correction may develop toward 0.72080 and 0.71920. A deeper daily decline would then expose 0.71680.
