AUD Pares Gains, Bulls Remain in Control as Technicals Intact

The Australian dollar has pulled back from its 12-week high against the US dollar in early trading, but technical indicators suggest that the bullish momentum remains intact.

This correction follows a sustained rally that lifted the AUD/USD pair to levels not seen in three months, driven by a softer US dollar and improved risk sentiment.

However, profit-taking and a modest rebound in the greenback have prompted a slight correction, with the pair currently trading around [price], down [percentage] from its recent peak.

The Relative Strength Index (RSI) on the daily chart has eased from overbought territory, suggesting that the market is cooling off without flipping bearish. The AUD/USD pair remains above its 20-day and 50-day moving averages, confirming the broader uptrend.