AUDUSD: Bullish momentum holds above support

Wait 5 sec.

AUDUSD: Bullish momentum holds above supportAUD/USDOANDA:AUDUSDNira_raAUDUSD is maintaining a positive trend, consistently forming higher lows and holding above the underlying uptrend line. The 0.6960 support zone is playing a crucial role, with buyers repeatedly stepping in to defend the structure. Beyond technical factors, expectations that the RBA will maintain high interest rates are providing additional momentum for the AUD. Currently, the price is consolidating just above the support zone, indicating that selling pressure is insufficient to break the trend. I anticipate that AUDUSD could continue its recovery toward the 0.7030 level. A successful break above this resistance zone could extend the upward momentum in subsequent sessions. Entry Focus: Prioritize looking for long positions while the price holds above the 0.6960 zone and a bullish confirmation signal appears. Invalidation: The bullish scenario is invalidated if the price breaks and closes below the 0.6960 zone.