Weekly Chart AUD/USD: Extending bounce from .6900 support

Consolidation above support at the .6950 congestion has given way to gains to bounce retest the .7000 resistance. Break here will open up room for stronger gains from the .6900 low to retrace losses from the .7238, September high.

Higher lows at the .6865 and .6833 June and March lows see prices sustaining bullish structure from the April 2025 year low. Break above the .7000 level will see room for extension to the .7050 congestion then the strong resistance at .7080/.7100 May low and congestion area where reaction can be expected. Break here will fade the downside pressure and open up room for retest of the .7200 level. Clearance here will expose the .7238 and .7278, September high and May current year high to retest. Beyond these will open up room for exension to .7400 level and .7510, 76.4% Fibonacci retracement.

Meanwhile, support at the .6900 level should underpin. Only below the latter will expose the critical support at .6865 and .6833 June/March lows to retest and extend the broader losses from .7278 May current year high.