AUD/USD Price Forecast: Hits Highest Since June, Bulls Target Break Above 0.7150

AUD/USD has regained upward momentum after brief pressure, climbing to highs not seen since early June during the first half of the European session, currently trading near 0.71464, extending the recent overall bullish bias.

**Limited Impact from Employment Data, Bullish Stance Unchanged**

In the previous trading session, weak Australian employment data weighed on AUD/USD, causing a slight decline, but the drop was relatively limited, with no trend reversal observed in the market. The pair quickly recovered ground afterward, indicating firm bullish sentiment. From a technical perspective, according to market analysis, the pair had previously broken above the consolidation zone near 0.7077 to 0.7091, and as long as it holds above that breakout area, the short-term bullish structure can persist.

**Solid Moving Average Support, Clear Technical Bullish Signals**

According to FXStreet analysis, AUD/USD has broken above the 20-day exponential moving average (EMA) of 0.7056 on the daily chart and is holding firmly above this dynamic support, maintaining the short-term bullish bias. Technical indicators such as the relative strength index also align with the current trend, providing additional support for bulls. The current price of 0.71464 is clearly above the aforementioned moving average support level, indicating a relatively healthy technical structure.

**Key Resistance in Sight, 0.7150 Becomes Next Bullish Target**

From a price action perspective, the bulls' current focus is on the area above 0.7150. If the pair can effectively break through this level, it may open the door to further upside. However, given that it previously pulled back from near the June high, the market needs to monitor potential resistance pressure in this zone, as well as whether Australian macroeconomic data can provide sustained support. In the short term, the 20-day moving average near 0.7056 and the previously broken area will constitute important support; if the pair falls back below this zone, the sustainability of the bullish structure would need to be reassessed.