AUD/USD remains confined within the 0.6977–0.7087 range, with the intraday bias staying neutral. A break below 0.6977 would reopen downside momentum from the 0.7277 high and target the 0.6832 support area. On the upside, a move above 0.7087 would point to a stronger rebound, with 0.7200 acting as the next resistance zone.
On the broader chart, bearish divergence in the daily MACD suggests that 0.7277 may have formed a medium-term peak after the pair failed to hold above the 61.8% retracement of the move from 0.8006 in 2021 to 0.5913 in 2024, near 0.7206. If selling pressure extends, the correction could reach the 38.2% retracement of the 0.5913-to-0.7277 rise around 0.6756. However, stronger support is expected near that level and could help trigger a rebound. For now, AUD/USD is likely to remain in consolidation below 0.7277.
