The AUD/USD currency pair is ending the trading week with a correction near the 0.6957 level. The pair continues to move within a bullish channel and is currently forming a “Triangle” pattern. Moving averages point to an ongoing uptrend. The price has broken upward through the area between the signal lines, indicating mounting pressure from buyers and the potential for further gains in the currency pair. At present, we should anticipate an attempt to extend the decline and a test of the support area near the 0.6935 level. This would likely be followed by an upward rebound and a resumption of the AUD/USD pair’s growth, with a potential target above the 0.7525 level.
AUD/USD Weekly Forecast October 19 – 23, 2026
An additional signal favoring an upward move for the pair is a rebound from the lower boundary of the “Triangle” pattern. A second supporting signal would be a rebound from the support line on the Relative Strength Index (RSI) indicator. The bullish scenario for the AUD/USD pair during the current trading week (October 19–23, 2026) would be invalidated if the price falls and breaks below the 0.6825 level. Such a move would indicate a breach of support and a continued decline for the Australian Dollar, with a potential target at 0.6545. Conversely, confirmation of an upward move would come from a breakout above the resistance area, with prices closing above 0.7315; this would signal a break through the upper boundary of the “Triangle” pattern and the initiation of the pattern’s bullish targets.
AUD/USD Weekly Forecast October 19 – 23, 2026 suggests an initial attempt at a bearish correction, testing the 0.6935 level. This is expected to be followed by a resumption of the pair’s growth, targeting levels toward 0.7525. A test of the trend line on the Relative Strength Index (RSI) indicator would further support an upward move this week. The bullish outlook would be invalidated by a decline that breaks through the 0.6825 area; such a development would signify a breach of support and a continued decline for the pair, with a target below 0.6545.
