AUD/USD edges slightly higher to trade around 0.7007, but the broader technical outlook remains bearish as the pair continues to hold below the 20-day Exponential Moving Average (EMA) at 0.7107.

Adding to the downside pressure is a strong Fibonacci resistance zone beginning at the 50.0% retracement level near 0.7057, limiting recovery attempts and keeping sellers in control.

Key Levels to Watch
📍 Current Price: 0.7007
🔻 Immediate Support: 0.7005 (61.8% Fibonacci retracement)
⚠️ Next Support: 0.6930 (78.6% Fibonacci retracement)
🛡️ Major Support: 0.6836 (100.0% retracement)
🔼 Immediate Resistance: 0.7057 (50.0% retracement)
📈 Key Resistance Zone: 0.7107–0.7110
🚧 Higher Resistance: 0.7174 (23.6% retracement)

Technical Outlook
The 14-day Relative Strength Index (RSI) near 34 indicates that bearish momentum remains dominant, although the pair has yet to enter deeply oversold territory. This suggests there is still room for additional downside before a stronger corrective rebound emerges.
A decisive break below 0.7005 could accelerate losses toward 0.6930, while a deeper decline may expose the previous swing low near 0.6836.

On the upside, buyers would need to reclaim 0.7057 initially, followed by the 0.7107–0.7110 resistance cluster, to ease the current bearish bias.

Outlook
AUD/USD remains vulnerable while trading below the 20-day EMA and key Fibonacci resistance levels. Unless bulls regain control above the immediate resistance zone, the path of least resistance continues to favor the downside.