Michele Bullock

AUD/USD is consolidating after reaching its highest level since early June, with traders weighing softer U.S. data against fresh geopolitical uncertainty. Australian employment figures due Thursday could help determine whether the rally extends or gives way to a deeper pullback.

AUD/USD traded around 0.7062 after failing to extend gains beyond this week’s high of 0.7090. Market attention is turning to US Producer Price Index data, though traders widely expect it to have limited impact after recent CPI and labor market figures.

AUD/USD is wavering near 0.7062 after the Reserve Bank of Australia held rates at 4.35% and US inflation figures matched expectations. Technical traders are watching a doji candle, head-and-shoulders structure and rising wedge for signs of a possible move toward 0.7000 and 0.6950.

AUD/USD is holding near its strongest level since mid-June after a sharp reversal from an early-week sell-off. Technical traders are watching whether support near 0.7020 can underpin a move toward the projected 0.7115 area.

AUD/USD is trading near its highest level since mid-June after a sharp reversal from an early-week sell-off. Technical traders are watching whether a pennant breakout can sustain momentum toward 0.7115 while 0.7020 remains the first major support level.