AUDUSD: Price Compresses Around the 0.7110 Decision AreaAUD/USDOANDA:AUDUSDdarcsherryAUDUSD is testing the broader upward structure around 0.7110 after pulling back from the 0.7239 area. On the Four Hour chart, buyers have continued to respond at higher prices since late June. However, the recent decline means that the strength of this structure is now being tested. The One Hour chart shows price trading between 0.7108 and 0.7135 after moving through a descending channel. This range provides a practical area for assessing which side is beginning to gain control. Buyer scenario A break above the descending channel and 0.7135, followed by pullbacks finding support, would suggest that sellers are losing control of the short-term structure. Seller scenario A break below 0.7108, followed by difficulty recovering above 0.7110, would suggest that buyers are struggling to support price. This could bring the rising support and 0.7070 back into focus. RBA Governor Bullock’s speech, US Manufacturing and Services PMIs, and Australia’s employment report may cause traders to reassess interest rate expectations during the week. While price remains inside the range, neither scenario has been confirmed. The more useful information will come from which side can sustain a move beyond the current boundaries after the market reacts to the upcoming events. This analysis is for educational purposes and does not constitute financial advice.