AUD/USD: The Technical Squeeze Between 0.6980 And 0.7070

MarketPulse by OANDA Group645 FollowersFollow5ShareSavePlay(7min)CommentsSummaryAustralia's annual CPI cooled slightly to 3.7% in February 2026, yet it remains above the RBA's target range.The AUD/USD pair is technically "coiled" within a tight trading range of 0.6980 and 0.7070.Near-term price direction will be dictated by US Dollar strength and geopolitical developments.Key levels to watch are a sustained bearish candle close below 0.6980 or a bullish breakout above 0.7070. autsawin/iStock via Getty Images By Zain Vawda AUD/USD continues to struggle below the psychological 0.7000 handle following softer-than-expected CPI data. Market participants still seem to be erring on the side of caution, with more rate hikes still expected from the RBAThis article was written byMarketPulse by OANDA Group645 FollowersFollowMarketPulse is an award-winning industry analysis and news site service created by OANDA Business Information & Services, Inc. Covering forex, commodities, global indices and more, our goal is to give timely, relevant and informative commentary on major macroeconomic trends, technical analysis and worldwide events impacting the industry.