Weekly Chart AUD/USD: Corrective pullback from .7050/80 resistance

Saw rejection from the .7050/.7080 resistance as prices retrace rally from the .6900 support. Pullback has since found support at the .6950 congestion but negative daily studies weighs and threaten break here to expose the .6900 lows to retest. 

Would expect the latter to underpin and give way to renewed interest later. Failure to hold the .6900 level will expose the .6865 and .6833 June/March lows to retest and threaten deeper correction of the gains from the April 2025 year low. Below the latter, if seen, will see room to strong support at .6650/.6600 congestion and previous trendline resistance turned support from the 2021 year high.

Corrective pullback is expected to give way to fresh gains later with resistance starting at the .7000 level. Regaining this will return focus to the .7050/.7080 resistance. Above these will return focus to the upside and see room for extension to the .7100/.7150 congestion area. Beyond these will see room to the .7200 level but potential will be for retest of .7238 September high and .7278 May current year high.