AUD/USD Launches Bullish Impulse Above 0.7090 Key Support

AUD/USD is building fresh bullish momentum after successfully defending the critical 0.7090 support level, kickstarting what technical analysts identify as a new impulsive wave to the upside. The pair's price action is being predominantly driven by risk sentiment rather than domestic fundamentals, with its correlation to global equities surging to an exceptionally high 0.95 — effectively behaving as a high-beta risk proxy. This elevated correlation means AUD/USD movements are closely tracking stock market performance, making equity market direction the primary near-term driver. The 0.7090 level has proven to be a robust demand zone, and a sustained hold above this floor opens the path for further upside. Traders should watch for confirmation of the bullish impulse sequence through higher highs and higher lows on intraday charts. Key resistance levels above current price will be critical to monitor for profit-taking zones. Given the strong equity correlation, any deterioration in global risk appetite could quickly reverse the bullish setup, making position sizing and risk management particularly important.