AUD/USD is extending its recovery after rebounding from deeply oversold conditions recorded in late June. The pair has attracted short-term buying interest, supported by improving momentum indicators, although the broader market structure continues to favor the bears.

The 4-hour Relative Strength Index (RSI 14) has climbed into the low-60s, reflecting stronger bullish momentum, while the MACD remains in positive territory with expanding green histogram bars, signaling that the corrective rally still has room to continue.

🔴 Resistance Levels
0.6950 – 38.2% Fibonacci Retracement
0.6976 – 50.0% Fibonacci Retracement
0.7000 – 61.8% Fibonacci Retracement & major psychological resistance
A sustained break above 0.7000 would strengthen the recovery and could shift the short-term outlook in favor of buyers.

🟢 Support Levels
0.6935 – Immediate support
0.6885 – Previous session low
0.6865 – Major June support zone
Failure to hold above 0.6865 would invalidate the current recovery and confirm a continuation of the broader bearish trend.

📈 Market Outlook
AUD/USD is experiencing a healthy technical rebound after reaching oversold conditions. However, the pair remains within a broader downtrend, meaning rallies toward resistance are likely to attract fresh selling pressure unless buyers can secure a decisive breakout above 0.7000.

🎯 Trading Bias
Bullish above 0.6935 (short-term correction) 📈
Bearish below 0.6865 (broader trend remains intact) 📉

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