21:01 UTC
Uptrend, momentum stalling near range top · RSI 54 · price 0.7171
Higher highs/higher lows since late Feb, capped at 0.7270.
Three-month uptrend off the late-Feb 0.6875 base, price holding above EMA(50) on D1 since early April. Two attempts at the 0.7270 swing high have rejected, and the pair has pulled back to retest 0.7080 before stabilising in a tight 0.7150-0.7180 consolidation. Softer Australian inflation this week has taken the steam out of the rally, with bearish RSI divergence into the May peak.
Support: 0.7080, 0.6975, 0.6875
Resistance: 0.7220, 0.7277
What it said to watch
- Daily close below 0.7080 swing low confirms a lower-low and breaks the trend structure
- Daily close back above 0.7220 prior high reopens the path to the 0.7277 swing high
- Iran sanctions / Hormuz headlines could materially shift USD risk premium