AUDUSD | Weekly Timeframe Analysis

The current support/resistance zone around 0.6960–0.6970 has played a significant role in AUDUSD’s historical price action, repeatedly acting as both resistance and support.

Price is currently retesting this key zone, while the weekly bearish divergence adds another important factor to monitor.

Key Scenarios to Watch:

🔹 Bearish Scenario: If price fails to hold above this zone and the weekly bearish divergence plays out, we could see a rejection followed by further downside.

🔹 Bullish Scenario: If buyers successfully defend this zone and price continues to respect it as support, AUDUSD may attempt another move higher, weakening the immediate bearish outlook.

The U.S. Dollar Index (DXY) has also shown fluctuating momentum. A renewed recovery in the dollar could put additional pressure on AUDUSD, potentially leading to a breakdown of this critical zone.

My focus is on price confirmation rather than prediction. Will historical support hold, or will bearish divergence take control and push price lower?

💬 What’s your opinion on this setup? Do you think AUDUSD will respect this zone as support and move higher, or will the weekly bearish divergence lead to a breakdown? Share your analysis in the comments.

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AUDUSD | Weekly Timeframe Analysis