The Australian Dollar to US Dollar (AUD/USD) currency pair is ending the trading week with gains near the 0.7003 area. The pair continues to move within a bullish channel. Moving averages indicate an upward trend. Prices have broken above the area between the signal lines, indicating growing buying pressure and potential continued growth in the pair. Currently, we should expect an attempt at growth and a test of the resistance area near 0.7185. This should be followed by a downward rebound and continued decline in AUD/USD, with a potential target below 0.6305 in the forex market.
AUD/USD Weekly Forecast August 3 – 7, 2026
An additional signal supporting a decline in the Forex pair will be a rebound from the upper boundary of the Head and Shoulders reversal pattern. A second signal will be a rebound from the descending resistance line on the Relative Strength Index (RSI). A strong rally and a breakout of 0.7305 will cancel the downward trend for the AUD/USD currency pair during the current trading week (August 3-7, 2026). This will indicate a breakout of the resistance level and continued growth of the Australian Dollar on Forex, with a potential target at 0.7625. A breakout of the support area and a price close below 0.6845 will confirm the downward trend, signaling a breakout of the lower boundary of the Head and Shoulders reversal pattern and the beginning of the pattern’s implementation with targets below.
AUD/USD Weekly Forecast August 3 – 7, 2026 suggests an attempt to develop a bullish correction and test the 0.7185 level. Subsequently, the currency pair is expected to continue falling below 0.6305. A test of the trendline on the relative strength indicator (RSI) would support a downside risk this week. A strong rally and a breakout of the 0.7305 area would cancel out the downside risk. This would indicate a breakout of the resistance area and a continued rally with a target above 0.7625.
