Weekly Chart AUD/USD: Room to extend June gains

Break above the .7000 level has seen gains to reach resistance at the .7050 congestion as prices retrace losses from the May current year high.

Bullish gains from the .6865 June low keep pressure on the upside and higher will see room to strong resistance at the .7080/.7100 area. Positive daily and weekly studies suggest scope for break here to see room for extension to the .7200 level. Clearance here will return focus to the .7278 May current year high where reaction can be expected. A later break here will see room to extend bullish gains from the April 2025 year low.

Meanwhile, support is raised to the .6922/.6900 late-July low and congestion area which should underpin and sustain gains from the .6865 June low. Would take break of the latter and the .6833 March low to fade the upside pressure and open up room for deeper pullback to retrace strong gains from the 2025 year low. Lower will see deeper pullback to support at the .6800/.6710 congestion and July 2025 high.