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fxAug 5, 2026, 6:09 AM

AUD/USD Steadies Near 0.7050 as Bullish Bias Holds

AUD/USD is trading around 0.7050 during Asian hours on Wednesday after a 0.5% gain the previous day. The pair remains within an ascending channel on the daily chart, reinforcing a bullish outlook.

AUDUSD

AUD/USD is little changed in Asian trading on Wednesday, holding near the 0.7050 level after rallying more than 0.5% on Tuesday.

The daily chart shows the pair continuing to trade within an ascending channel pattern, a formation that suggests the bullish momentum remains intact. Price action has been respecting the rising trendlines, with support from key moving averages.

The prevailing technical structure points to further upside potential unless a breakdown below the channel support occurs.

Source: FXStreet Forex News