AUDUSD extends gains amid renewed risk appetite

AUDUSD maintained a strong tone and accelerated higher on Wednesday, extending its latest bullish run into a fourth consecutive session.

The pair climbed to its highest level in over a week, supported by renewed risk appetite following the announcement of a U.S.–Japan trade deal.

Bullish momentum is now testing the 2025 peak at 0.6595 (July 11 high). A decisive break above this level would signal the end of a four-week consolidation phase and confirm bullish continuation, bringing the 0.6700 zone (76.4% Fibonacci retracement of the broader 0.6942–0.5914 downtrend) into focus.

Daily technical indicators have turned firmly bullish, with 14-day momentum moving into positive territory, moving averages aligned in a bullish setup, and price action supported by the thick daily Ichimoku cloud. However, some hesitation around the 0.6595 resistance is possible, as the stochastic oscillator enters overbought territory.

Any pullback is expected to remain shallow and should find solid support above the daily Tenkan-sen (0.6525) to maintain the bullish outlook.

Res: 0.6595; 0.6628; 0.6648; 0.6682
Sup: 0.6558; 0.6543; 0.6525; 0.6487