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fxAug 12, 2026, 6:51 AM

AUD/USD consolidates near 0.7050, bulls eyeing 50% Fibonacci resistance

AUD/USD continued its range-bound trading for a third day around mid-0.7000s, with buyers looking for a break above the 50% Fibonacci retracement level to extend gains.

AUDUSD

AUD/USD is extending its sideways movement for the third consecutive session, holding near the 0.7050 area during early European trade. The pair has been oscillating in a tight range as market participants await a clear catalyst.

Bullish traders are looking for a sustained push above the 50% Fibonacci retracement level, which could pave the way for an upward breakout. However, a failure to hold current levels might invite renewed selling pressure.

Source: FXStreet Forex News