AUD/USD Weekly Analysis AUD/USD on the weekly chart remains in a strong bullish structure. The pair is trading around 0.7180 and has been making higher highs and higher lows for several months. Looking at the recent candles, buyers are still controlling the market even though momentum has slowed near the current resistance area around 0.7200–0.7250. The market recently pushed higher and then started moving sideways, which often shows that traders are taking profits while waiting for the next direction. The RSI is near 64, which is bullish but not yet in an extreme overbought condition. This suggests there is still room for further upside if buyers return with stronger volume. I can see that every significant pullback during the recent uptrend has attracted buying interest, and this is an important sign that the long-term trend remains positive. The volume bars also increased during the major bullish move, confirming that buyers supported the rally. As long as price remains above the previous breakout zone, the overall trend favors the bulls.
For next week, I will pay close attention to how price reacts around the 0.7200 resistance region. If buyers manage to close strongly above this area, the market could continue toward 0.7300 and possibly test higher levels. However, if sellers defend the resistance and price fails to break higher, a temporary correction toward support levels may occur before the next bullish attempt. I think the area around 0.7050–0.7100 is an important support zone because it was previously a resistance area that has now turned into support. The weekly candles are still holding above the major trend line structure, so the broader outlook remains constructive. I would not consider the trend bearish unless the pair starts closing below key support levels on the weekly timeframe. Right now, the chart suggests consolidation within an uptrend rather than a complete trend reversal. Therefore, I remain cautiously bullish while watching for a confirmed breakout or a healthy pullback.
Final Trading Plan for Next Week Bias: Bullish Buy Zone: 0.7100 – 0.7150 Stop Loss: Below 0.7040 Target 1: 0.7250 Target 2: 0.7300 Target 3: 0.7350 Alternative Scenario: If a weekly close occurs below 0.7050, bullish momentum weakens and a deeper correction toward 0.6950 may develop. Preferred Strategy: Buy on dips while price remains above 0.7050 and hold for a breakout above 0.7200.
