AUDUSD is undergoing a correction after failing once again to break through the 0.7050 resistance zone. The rejection at this level indicates weakening buying pressure, while Fair Value Gaps (FVGs) below remain unfilled.

Fundamentally, the AUD remains under pressure as cooling Australian inflation dampens expectations for an RBA rate hike. Meanwhile, the USD continues to find support in the Fed's cautious stance.

If the price fails to reclaim the 0.7050 level, AUDUSD is likely to extend its decline toward the demand zone around 0.6970.

Current outlook: Favor selling (short positions) if the price weakens below 0.7050, with an immediate target at 0.6970.