Weekly Structure Still Favors the Upside
Step back and look at the weekly picture, and it’s hard to be bearish here. AUD/USD is currently hovering around multi-year highs, sitting comfortably above both Supertrend layers. Below that, you’ve got a short-term floor near 0.6965 and a deeper structural base down at 0.6725 that’s a meaningful buffer for anyone running swing trades with a medium-term horizon.
What I find more interesting, though, is what happened at the 0.7060–0.7070 zone. For a long time that was a stubborn ceiling. It’s not anymore. Price punched through, consolidated, and has since been treating it as support. That’s a textbook flip, and it’s exactly the kind of sequence, higher lows, broken resistance becoming new floors, that marks a trend worth respecting. A few nervous headlines out of Islamabad aren’t going to undo that structure on their own.
