AUDUSD trades within 0.7100-0.7200 range
The AUDUSD price has been contained within a relatively well-defined range between 0.7100 and 0.7200 over the last 15 trading days.
There were breaks below the lower boundary on May 19 and 20, but neither move generated sustained downside momentum.
The technical bias remains tilted to the downside while the price stays below the hourly moving averages, but sellers still have work to do to break below and stay below the key support zone.