**AUD/USD Weekly Analysis and Outlook – Extended Coverage**
*Based on the original report by ActionForex, with additional analysis drawn from sources including DailyFX and Investing.com.*
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### Overview
The Australian Dollar (AUD) continued to experience volatility against the US Dollar (USD), with intraweek movements reflecting ongoing economic uncertainty, monetary policy divergence, and shifting global risk sentiment. This comprehensive review explores the recent price action, technical structure, and potential trajectories for the AUD/USD pair, enhanced by insights from multiple leading forex analysts.
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### Recent Performance Summary
During the week, AUD/USD demonstrated resilience after a period of weakness, rebounding from support and attempting to push higher despite challenging macroeconomic conditions. The interplay of US interest rate expectations, Chinese economic data, and domestic Australian developments remains pivotal to the pair’s direction.
**Key Weekly Developments:**
– The AUD found demand near key support at 0.6580, marking the bottom of its recent range.
– US Dollar strength imposed by hawkish Fed rhetoric saw the Aussie struggle to sustain gains.
– Signs of stabilization in Chinese economic activity lent some support to the AUD, given Australia’s trade relationship.
– RBA remained cautious but left the door open for future policy adjustments.
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### Technical Outlook
#### Weekly Chart Analysis
– **Support and Resistance Levels:**
– Immediate support was observed at 0.6580, with further downside risk extending to 0.6468, a significant low from earlier in the year.
– Overhead resistance is located at 0.6713, with further barrier at 0.6800, coinciding with a key Fibonacci retracement.
– **Trend Structure:**
– The broader structure remains range-bound, with the pair confined between the 0.6468 and 0.6713 levels over recent weeks.
– Price remains below the long-term moving averages on the weekly chart, confirming the absence of clear bullish momentum.
– **Momentum Indicators:**
– The Relative Strength Index (RSI) hovers around the neutral level but is starting to turn upward, signaling the possibility of a shift in underlying sentiment.
– MACD histogram remains negative but is showing signs of reducing bearish momentum.
#### Daily Chart Perspective
– The pair formed a series of higher lows since the recent bottom, suggesting buyers are gradually emerging, albeit with caution.
– AUD/USD closed the week with a bullish candle, hinting at potential for near-term recovery if resistance at 0.6713 is breached.
– Failure to clear 0.6713 would reinforce the current consolidation, risking renewed selling toward the lows of the range.
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### Fundamental Drivers
#### US Dollar Dynamics
– The Fed maintained a hawkish stance, reinforcing the possibility of prolonged higher interest rates. This kept the US Dollar supported against major peers, including the AUD.
– Mixed US data, particularly softer CPI readings and stronger employment figures, created a tug-of-war impacting risk sentiment across markets.
#### Australian Economic
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