AUD/USD Extends Range Near 0.7000, Bearish Bias Remains

The AUD/USD currency pair is extending its sideways consolidative price action for the third consecutive session, hovering just above the psychologically important 0.7000 level during Asian trading hours.

The pair's inability to break decisively above or below the 0.7000 handle suggests a tug-of-war between buyers and sellers, though the underlying bearish bias remains intact. The lack of a clear directional catalyst keeps the pair range-bound in the near term.

Traders await fresh economic data or central bank commentary to trigger a breakout from the current narrow trading band. Until then, the prevailing sentiment points to continued downside risk.