• AUD/USD trades with a softer bias after failed topside break at 0.7020-30 resistance zone

• 0.7000 back under pressure, price action still broadly consolidative for now

• Close in focus, daily settle below 0.6992 would signal a bearish key day reversal

• Bearish key day defined as higher high, lower low, and close below prior day low

• A confirmed reversal would shift near-term risks lower towards 0.6950 support

• Further downside opens 0.6910-20 zone, where the 200-day MA cluster sits
AUDUSD daily chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))