Weekly Chart AUD/USD: Extending June gains

Choppy gains within a 6-week bull channel from the .6865 low of 30 June has seen gains to reach strong resistance at the .7080/.7100, May low and congestion area.

Bullish gains from the June low and positive daily and weekly studies suggest consolidation to give way to break later to further retrace May/June losses. Break here will see room for extension to resistance at the .7150/.7200 area. Beyond this will return focus to the .7278 May current year high where reaction can be expected. A later break, will further extend bullish gains from the April 2025 year low.

Meanwhile, support is raised to the .7000 figure which should underpin. Break here will delay bulls and see room for deeper pullback to strong support at the .6950 congestion and extending to .6922 low of 29 July. Would expect this area to limit corrective pullback and sustain bullish gains from the .6865/.6833, June and March lows.