AUDUSD – consolidation may precede final push towards 2026 peak

AUDUSD keeps firm tone and hit new (marginally higher) one-month high on Wednesday, underpinned by renewed risk appetite on growing hopes on a peace solution between the US and Iran.

Multiple daily MAs bull crosses and strengthening positive momentum add to bullish outlook, although the rally may pause for consolidation / limited correction before final push towards 0.7187 (new 2026 high, posted on Mar 11), as stochastic is deeply in overbought territory and RSI is turning sideways.

Larger bullish structure is expected to remain mainly intact while the price stays above 0.7053 (top of thick daily cloud) with violation of 0.7187 pivot to unmask next target at 0.7207 (Fibo 61.8% of larger 0.8007/0.5914 downtrend).

Immediate supports lay at 0.7125 (hourly higher low) and 0.7100 zone (broken Fibo 76.4% / rising 5DMA).

Res: 0.7150; 0.7187; 0.7207; 0.7271
Sup: 0.7125; 0.7100; 0.7053; 0.7000