AUD/USD daily: rejection at 0.7400 sets up retest of the 0.7000 Australian Dollar/US DollarFX:AUDUSDGovindSatoshiQuick read on AUD/USD from a Sydney-based trader's seat. The pair has just printed a -1.01% rejection candle off the 0.7400 zone (today closed 0.71472 against the open at 0.72201), capping a multi-month recovery rally from the 0.5950 lows seen in 2025. That 0.7400 area is structurally significant: it is the highest the pair has traded since the 2024 range broke down, and it lines up with the underside of the 2022 to 2024 trading range that previously acted as support. The setup I am watching for next week. Resistance 0.7400 is the rejection high and the level to invalidate the short-term bearish read. A weekly close back above it reopens 0.7500 to 0.7600. 0.7250 is the near-term cap on any bounce, the level that broke down today. Support 0.7100 is the immediate level. Today's low sits at 0.71397. 0.7000 is the structural one. Round number, prior breakout level, and the line in the sand for the recovery trend from 2025. 0.6800 opens up if 0.7000 fails on a weekly close. RSI(14) at 48.18 is cooling from overbought without yet flipping bearish, so the move has room either way. For an Australian-resident trader watching this from the local time zone, the Sydney open prints the first real reaction after the Friday US close. Anyone running this with leverage should size it through a proper position-size calculator that adjusts USD pip value for an AUD account balance, particularly under the 30 to 1 ASIC leverage cap on majors. Not financial advice. This is my read of the chart structure, not a recommendation.