On the H1 chart of AUD/USD the market has been consolidating around the 0.7010‑0.7020 zone after a sharp drop from the 0.707‑0.704 region earlier in the session. The 13:00 candle produced a bullish engulfing with a close at 0.70188, and the subsequent 17:00 bar tested a short‑term high of 0.70241, indicating that buyers are defending the 0.7015 level. Volume spikes at the turn of the day (over 9,000 contracts) confirm that the move was not a random fluctuation but a genuine accumulation of long positions. With the price now hovering just above the recent swing low of 0.7008, a break…

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