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The AUD/USD pair resumed its upward trajectory after breaking through the 0.7146 resistance level, signaling a bullish reversal. Key technical levels include daily pivots at S1 (0.7058), P (0.7115), and R1 (0.7177). The intraday bias is positive, with the 100% projection targeting 0.7213 and a potential 161.8% extension at 0.7703 if the breakout holds. Traders are closely monitoring these levels for confirmation of sustained momentum. For forex traders, this development is critical as the AUD/USD is a major cross-currency pair. A decisive break above 0.7146 could trigger a broader rally, attracting speculative long positions. Conversely, a pullback below 0.7115 might reintroduce bearish pressure. The pair's volatility makes it a key asset for both directional bets and range trading strategies. Looking ahead, the focus remains on the 0.7146-0.7213 corridor as a pivotal test for the pair. A sustained move above 0.7703 would validate a bullish case, while a failure to hold 0.7115 could shift the trend lower. Traders should also watch for broader macroeconomic factors, such as RBA policy shifts or USD weakness, which could amplify AUD/USD movements.
