AUD/USD Simple Price Action Forecast: Why Buy at 0.71700 Support Area?

Key Takeaways:

• AUD/USD price action reveals a strong bullish trend on both the weekly and daily charts.
• Buyers are actively defending the 0.71390 to 0.71179 weekly support zone from lower prices.
• high-probability bullish setup targets 0.72300, aligning with the broader market momentum.
• bearish breakdown scenario relies on a strict retest to target the 0.70500 level.

What is AUD/USD Technical Story Telling Using Simple Price Action Analysis?

Weekly Chart

On AUD/USD weekly chart, it continues to display a strong bullish structure, with price action respecting a key support zone and sustaining upward momentum.

Weekly Chart Observations:

• The higher timeframe trend remains firmly bullish.
• A potential higher low is developing within the 0.71390 – 0.71179 weekly support zone.
• Buyers are actively defending this area, evidenced by clear rejection of lower prices.
• Consistent buying interest on pullbacks reinforces the ongoing bullish momentum.
• Current candlestick behavior shows a notable rejection forming at the weekly support level.

Overall, the broader market structure remains intact, with bullish conditions holding steady and price action continuing to favor further upside.

Daily Chart

On AUD/USD daily chart, price is rejecting a key weekly support level and continues to form higher highs, signaling a strengthening bullish structure. The market may revisit the previously broken resistance zone, now acting as support, before potentially pushing further to the upside.

Daily Chart Observations:

• Market structure has shifted from bearish to bullish, confirming a trend reversal.
• Price is nearing a potential support retest zone between 0.71822 – 0.71657.
• Buying pressure is increasing, with stronger participation seen in recent price action.
• Rising demand supports the case for continued upside momentum.

Overall, this shift reinforces a bullish outlook, with price action favoring higher levels as demand continues to build.

How can you Trade This Simple Price Action Setup on AUDUSD on Simple Technical View?

Bullish Scenario

AUD/USD remains bullish bias if: 

• Price is holding and showing clear rejection at the key daily support zone of 0.71822 – 0.71657.
• A strong bullish candlestick confirmation is needed to validate buyer control.
• Entry signal (bullish engulfing) on the lower timeframe (15m. 30m, 1h or 2h)
• The upside target (take-profit zone) is positioned at 0.72300.

This is the higher-probability setup since it aligns with the overall trend.

Bearish Scenario

AUD/USD remains bearish bias if: 

• Break and retest weekly support level 0.71390 - 0.71179.
• Properly Retest daily reject after the break and retest weekly support level.
• Entry signal (bearish engulfing) on the lower timeframe (15m, 30m, 1h or 2h). 
• The bearish target price and take-profit area is 0.70500.

Note: Trading against the trend is generally much less favorable counter -trend trade generally carries lower probability and less favorable risk-to-reward conditions. 

FINAL TAKE

AUD/USD remains bullish, but the key is to stay patient and disciplined.

Price is still respecting support, and buyers are active around the 0.71822–0.71657 zone. As long as this area holds, the structure supports further upside toward 0.72300.

However, execution matters more than bias. Wait for confirmation. Don’t force trades. Let the market show its intent before you commit.

And most importantly, manage your risk properly on every trade. Protect capital first; opportunities will always follow.

Keep it simple:

Support holds = Potential buy setups

Break in structure = Potential sell setups

No confirmation = No Trade

Let price action show the lead!

You stay patient, disciplined, and consistent.

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4. Master Simple Technical strategies & Indicators → especially price action, key levels, and market structure.  
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Disclaimer:   
Trading forex and derivative instruments involves substantial risk and may not be suitable for all individuals. Only use funds that you are prepared to lose. It is important to understand how these markets work and the risks involved before trading, and to seek independent financial advice if needed. All market analysis and insights shared are intended for educational and informational purposes only and should not be considered financial or investment advice. April 28, 2026