AUDUSD has confirmed a strong channel breakout pattern after breaking above the descending upper trendline with a strong candle confirmation in H1. Price has been in a clear downtrend, yet buyers have now regained control directly above the 0.6930 demand barrier. This decisive breakout clears path to the 0.7020 resistance barrier and exposes the major 0.7050 target zone.
🟢 1st Resistance - 0.7020
🟢 2nd Resistance - 0.7050
🔴 Support Zone - 0.6930 - 0.6900
✅Bullish Confirmation - Clean rejection from support zone and Break above trendline with strong candle confirmation.
Fundamentally, the RBA’s fourth 2026 rate hike lifted the cash rate to 4.60%, keeping a hawkish policy backdrop beneath the Australian dollar.
This analysis is for educational purposes only and not financial advice.
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