AUD/USD Intraday Signal: Consolidation With Upside Bias
Analysis:
AUD/USD is trading in a consolidation phase, yet the intraday bias remains bullish while price holds above the pivot level at 0.7045. Buyers continue to defend this area, opening the path toward 0.7110 and the extended target at 0.7135. Price action suggests stabilization above support, favoring gradual upside continuation.
Although further consolidation cannot be ruled out, its downside extent is expected to remain limited as long as 0.7045 holds. The short-term structure supports higher levels, with pullbacks likely to be corrective rather than trend-changing.
Alternatively, a break below 0.7045 would weaken the bullish setup and expose downside supports at 0.7015 and 0.6985.
Trade Setup:
Enter: Long above 0.7045
Stop-Loss (SL): 0.7015
Target A: 0.7110
Target B: 0.7135