Uptrend from the early-month 0.688 base remains intact with higher lows, but the advance has stalled beneath the 0.7026 five-week high after a strong AU labour report lifted AUD there before firmer USD dragged it back sub-0.70. Price is now consolidating between the 0.6962 swing low and the 0.7000 round number, with rejection evident each time the 0.7026 cap is approached. ATR(14) has eased as the pair coils near range highs.
Support: 0.6962, 0.6900
Resistance: 0.7000, 0.7026
What it said to watch
H4 close above 0.7028 invalidates the topside cap and opens continuation
Failure to hold 0.6962 swing low exposes 0.6900
AU Q2 CPI on Jul 29 and FOMC same day could materially shift this read
Consolidating under five-week high, higher-lows intact.
AUDUSD has traced higher-lows off the early-July 0.6913 base and pushed to a five-week high at 0.7026, but the 0.7025-0.7028 cluster has repeatedly rejected the topside, leaving price consolidating around the 0.70 pivot. The June jobs beat lifted the pair before firmer, oil-driven USD strength dragged it back sub-0.70. ATR is steady near 15 pips, no expansion yet — the market is coiling ahead of Wednesday's FOMC and the AU CPI print.
Support: 0.6961, 0.6913
Resistance: 0.7000, 0.7026
What it said to watch
H4 close above 0.7028 opens the path back to the topside cap and beyond
Loss of 0.6961 breaks the higher-low structure toward 0.6913
AU Q2 CPI Jul 29 and FOMC Jul 29 are the dominant catalysts that could shift this read