AUD/USD Wavers Near 0.6950 as Bearish Momentum Fades

AUD/USD is consolidating near 0.6950 after rebounding from the 0.6865 low reached in late June. The pair broke its multi-month uptrend and the 0.7000 level, falling from 0.7277 highs to two-month lows near 0.6865. Rebounds have repeatedly stalled at 0.6977 resistance and the 38.2% Fibonacci retracement near 0.6955 amid hawkish FOMC minutes and geopolitical tensions. Broader momentum stays bearish below the 100-day SMA at 0.7074, leaving the pair vulnerable to further downside toward 0.6756 unless 0.6977 is reclaimed.