AUD/USD

The Aussie is holding a seven-week high at 0.70 on strong domestic PMI and RBA hawkishness, but a wall of moving average resistance between 0.7019 and 0.7053 must be convincingly cleared before any sustained bull run can develop.

AUD/USD is consolidating at the key 0.7000 round number, pinned between the supportive 200-day SMA at 0.6913 below and the capping 55-day SMA at 0.7019 and 100-day SMA at 0.7053 above, leaving the pair in a decisive no-man's-land.

Main Risk

55-day & 100-day SMA cluster resistance (0.7019–0.7053)

Repeated failure to close above the 55-day SMA at 0.7019 and 100-day SMA at 0.7053 leaves AUD/USD exposed to another technical rejection and a pullback toward the 0.6950–0.6913 support band.