AUDUSD H1: Retesting Resistance After a Recovery MoveAUD/USDOANDA:AUDUSDmartin_waternLooking at the 1h chart, AUDUSD has just gone through a fairly deep decline from the 0.7020–0.7030 resistance zone down to test the support area around 0.6970–0.6980. From this low, price has formed a series of higher lows, suggesting buying pressure is gradually returning and pushing price up in a stair-step structure. Price is now pressing back up against the old resistance zone around 0.7020–0.7030 — the same area that previously capped upside momentum. What's notable: this is the second time price has approached this resistance zone in the short term. If price breaks out and closes firmly above 0.7030, that would confirm the uptrend continuing, opening the door for a further rally. Conversely, if price gets rejected here again like last time, there's a strong chance of forming a double top, signaling a move back down to the 0.6970–0.6980 support zone, or even lower. This is just a personal view based on technical analysis, not investment advice. Always wait for confirmation signals before entering a trade and manage your risk carefully.