AUDUSD: Buyers Building a Base, Waiting for a Breakout?AUD/USDOANDA:AUDUSDParadise_NoirThe AUDUSD H4 chart is trading around 0.71649, after a fairly good recovery from the bottom around 0.7090 – 0.7120. What I notice is that the price is no longer falling uncontrollably, but is gradually forming a rounded accumulation base, indicating that buyers are starting to absorb selling pressure. Regarding news, the AUD is being supported by a weakening USD and improved risk-on sentiment. However, the previous Australian labor data wasn't very strong, so I don't see this as a completely "clean" uptrend. For AUDUSD at this time, technical analysis remains crucial and needs clear confirmation. On the chart, the 0.71200 – 0.71235 area is a very important nearby support level. As long as the price remains above this area, the recovery structure is still intact. Above, AUDUSD is approaching the resistance zone around 0.71757 – 0.71840. If the price clearly breaks through this area, stronger buying pressure could be triggered, paving the way to 0.72160. I lean towards a continued upward trend for AUDUSD, but I don't prefer chasing the price while it's near the resistance zone. A better scenario would be a slight retest of 0.71200 – 0.71400, holding support, then bouncing up to break 0.71840. Reference strategy: Good buy: around 0.71200 – 0.71400 if there are signs of price consolidation Buy breakout: when H4 closes clearly above 0.71840 TP1: 0.71840 TP2: 0.72160 In summary, AUDUSD is currently showing a fairly positive upward trend, but the 0.71840 level will be key to confirmation. If this level is broken, buyers could push the price up to 0.72160 in the short term. Conversely, if the price falls below 0.71200, the current upward structure will weaken significantly.