DAILY CHART ANALYSIS OF AUDUSD The technical analysis of the AUDUSD depicts a robust bullish trend that has clearly been in place since the currency pair bounced from the prolonged accumulation phase at around 0.6450 to 0.6550. AUDUSD did not make a sudden upward move; instead, it gradually changed its character from a sideways structure to an uptrend with higher lows and steady demand. The breakout above 0.6650 was the first indication that the change in sentiment had taken place, and it brought a strong, impulsive rally. The price action since the breakout suggests a bullish continuation in a controlled fashion rather than a strong, unsustainable spike. The first big extension move brought AUDUSD up from the base of 0.6650 towards the 0.7000 psychological level. At that level, the price initially faced resistance, but the buyers were quick to absorb the supply, and thereafter the price was pushed to higher levels. After that, AUDUSD made a shallow pullback, which stayed above the 0.6900 level, thus making another higher low and confirming the strength of the trend. This type of retracement is usually a sign of great involvement of the trend followers who would be buying on the dips of the minor movements. Following a second bullish wave, the AUDUSD moved up to the 0.7120, 0.7150 area, where the price is now consolidating. This zone has become the immediate resistance level as the market is taking a break after a long run. Instead of turning down, AUDUSD is tightening under this level, which indicates the potential for continuation in case of a resistance breakout. The upward trendline from the January swing low is still leading the price higher and looks structurally firm. Applying Fibonacci retracement between the swing low near 0.6900 and the recent high around 0.7150 gives a well-defined picture of support levels within the uptrend. The 23.6% Fibonacci retracement level is close to 0.7080, which matches the first layer of support revealed during the recent consolidation. AUDUSD has already shown some reaction around this level, meaning that buyers are holding shallow retracement levels. The 38.2% Fibonacci retracement is located near 0.7050, thus forming an even stronger support confluence with the previous structure. When the price pulls back deeper, this level is anticipated to attract buyers again. Should AUDUSD stay above 0.7050, the bullish structure would still be considered strong, and it would be interpreted that the pullback is only corrective. The 50% Fibonacci retracement is roughly around 0.7025 and coincides with a previous breakout area. A midpoint level like this one is frequently seen as a balance zone where the big players reassess their positions. AUDUSD staying above 0.7025 would be a sign that demand still dominates and the market is gearing up for another push north. The 61.8% Fibonacci retracement level is found near 0.6995 to 0.7000, which matches the psychological round number as well as the resistance-turned-support line. This is the main structural support for the bulls because if the price drops and stays below 0.7000, it would indicate a loss of momentum and the start of a more extensive correction. The bullish trend remains intact as long as the price of AUDUSD stays above this level. On the upside, a confirmed break above 0.7150 would open the path toward the next resistance near 0.7220, followed by 0.7300, which represents a higher timeframe supply region. AUDUSD has not yet tested those levels, but the current consolidation indicates energy building for a possible continuation. The pattern resembles a bullish flag structure where the price pauses before extending higher. Constantly, dynamic support from moving averages below the price keeps increasing, which strengthens the trend direction. AUDUSD is displaying a constant buying interest as it is consistently trading above these averages, which also keeps the medium term momentum in the hands of the buyers. The gap between price and the longer-term average is another indicator of a mature trend, but not one that is ready to turn around. Momentum indicators do not show any signs of a reversal of the bullish structure but remain supportive of it. RSI staying above its midpoint is a sign that strong buying pressure is continuing, and MACD being in a positive area is evidence of the continuation of the rally in spite of the slight flattening during the period of consolidation. The fact that there is no major bearish divergence in AUDUSD is an indication that the trend is just taking a break and not stopping. AUDUSD, on the whole, is sticking to a healthy bullish pattern of higher lows, trendline support, and shallow retracements through Fibonacci. There is a cluster of support at 0.7080, 0.7050, and 0.7025, which correspond to Fibonacci levels 23.6%, 38.2%, and 50%, respectively, and the last one is 0.7000 at 61.8%. The resistance point is 0.7150 with a potential move up to 0.7220 and beyond if a breakout happens. The uptrend is still there as long as the price stays above 0.7000 and keeps respecting the ascending formation.
