AUDUSD close to supportAUD/USDOANDA:AUDUSDRyan_lopesMarket Structure The market has been making: Lower highs Lower lows This means the primary trend is still bearish. The recent decline from around 0.7250 has been strong with very little bullish momentum Support Zone The blue line is around 0.6835–0.6840 This level has acted as: Previous swing low (late March) Strong demand zone Area where buyers entered aggressively before Price has now returned to the same level. This makes it an important liquidity zone. Fundamental Analysis AUD/USD is primarily influenced by: Interest rate expectations in Australia and the U.S. Commodity prices (especially iron ore) Chinese economic activity Global risk sentiment U.S. Dollar strength Bullish Factors for AUD A rebound is more likely if: The U.S. dollar weakens. Australian inflation remains firm enough to support relatively high interest rates. Chinese stimulus improves demand expectations. Equity markets remain in a risk-on environment. Commodity prices recover. These conditions tend to support the Australian dollar.