AUD/USD Bulls Test 0.7100 Barrier Amid Cautious Outlook

The AUD/USD pair is trading near 0.7070 on August 14th after a slight recovery from June's short-term weakness.

The Australian dollar is being supported by a wide policy-rate advantage and improving price structure, but resistance around 0.7100 and a busy Australian economic data calendar keep the outlook balanced.

Recent July's advance has not yet produced a decisive breakout, with price consolidating below the first meaningful resistance zone at 0.7100, while trading within the broader May-to-June range.

A bullish scenario may gain support if AUD/USD holds above 0.7025 and closes decisively above 0.7100, which could open a re-test of the yearly high at 0.7275.