The Australian Dollar to US Dollar (AUD/USD) currency pair is ending the trading week with gains near the 0.7188 level. Buyers could still break through the key resistance level. 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 a bearish correction and a test of the support area near 0.7035. Then, a rebound upward and continued growth in AUD/USD with a potential target above 0.7585 on the forex market.
AUD/USD Weekly Forecast May 4 – 8, 2026
An additional signal in favor of the pair’s growth on Forex will be a rebound from the lower boundary of the bullish channel. A second signal will be a rebound from the ascending trend line on the relative strength indicator (RSI); it’s worth noting that there have already been several bounces from this line. A decline and a breakout of 0.6825 will cancel out the AUD/USD’s growth potential during the current trading week, May 4-8, 2026. This will indicate a breakout of support and continued decline in the Australian Dollar on Forex with a potential target of 0.6345. A breakout of the resistance area and a price close above 0.7305 will confirm continued growth. No important news from Australia that could impact the Australian Dollar exchange rate is expected, so the pair will continue to move within the technical analysis framework.
AUD/USD Weekly Forecast May 4 – 8, 2026 suggests an attempt to develop a bearish correction and test the 0.7035 level. Further growth is expected above 0.7585. A test of the trend line on the relative strength indicator (RSI) will support the pair’s upward trend this week. A decline and a breakout of the 0.6825 area would cancel out the upward trend. This would indicate a breakout of the support area and a continued decline with a target below 0.6345.
