AUDUSD 1-Hour Market Analysis

The AUD/USD 1-hour cycle previously showed a choppy uptrend and is currently consolidating at a high level, with the latest price at 0.70074. The upper resistance levels are the intraday high of 0.70103 and the previous high of 0.70207, while the lower support levels are at 0.6990 and the intraday low of 0.69859. In the short term, the price is expected to continue fluctuating at high levels; a breakout above 0.7010 may target the previous high, while a drop below 0.6990 will likely test the support levels.