The AUD/USD pair still trades inside a broader bearish structure on the H1 chart. The decline from last week remains technically valid, and the latest rebound attempt has so far looked limited and unstable. Price action near the current zone suggests that the market is trying to build a base, but buyers have not yet produced a convincing reversal pattern. For the full session, the pair may stay sensitive to renewed downside pressure unless it manages to secure a stronger position above the pivot area. In other words, corrective upside remains possible, but the market still favors selling on rallies while lower highs continue to dominate.
Current price: 0.71129
Pivot: 0.7120
Nearest support levels: S1: 0.7101, S2: 0.7088, S3: 0.7072
Nearest resistance levels: R1: 0.7128, R2: 0.7145, R3: 0.7163
Note: If the pair remains below the pivot at 0.7120, sellers may continue to dominate and push the market toward 0.7101. A break lower would expose 0.7088 and then 0.7072. If AUD/USD moves above 0.7120 and consolidates there, the pair may develop a corrective rebound toward 0.7128 and 0.7145. Only a firm push above 0.7145 would weaken the bearish intraday bias and open the way toward 0.7163 later in the day.
