FX.co ★ Aimee | AUD/USD

Technical Analysis 20 October 2026 AUD/USD H-1 The AUD/USD 1-hour chart demonstrates a strong bullish continuation structure following its multi-session recovery from low extremes near 0.68990. Price action has surged back above its short-term moving average line and is currently pressing directly against a high-confluence horizontal resistance ceiling at 0.69923. This crucial test of overhead supply provides a high-probability framework for breakout continuation and pullback entry strategies. 1. Core Price Action & Structure * Current Price: 0.69923 * Immediate Resistance Zone: 0.69923 – 0.70240 (Major structural overhead supply ceiling corresponding to multi-session peak highs where strong selling pressure previously initiated). * Immediate Support Zone: 0.69740 – 0.69490 (Key intraday demand zone supported by the upward-sloping short-term moving average line and structural consolidation floors). * Moving Average Dynamic: Price is holding securely above its rising short-term moving average line, establishing strong dynamic trend support on the 1-hour timeframe. 2. Indicator Confluence * Relative Strength Index (RSI - 14): Currently sitting at 63.01. This positions momentum firmly in bullish territory above the neutral 50 line, indicating solid buying strength with ample capacity before reaching overbought territory. * MACD (12, 26, 9): Positioned at 0.000446 / 0.000432 above the zero baseline. The signal line maintains a positive orientation with positive histogram expansion, confirming sustained bullish momentum. * Bears Power (13): Reads -0.000171, indicating minimal bear dominance that is currently insufficient to derail the overarching bullish trend. 3. Strategic Entry Scenarios Scenario A: Bullish Breakout (Long Entry) * Entry Trigger: A sustained 1-hour candle close above 0.69930 to confirm a resistance breakout, or a shallow dip-buy retest near 0.69740 at dynamic moving average support. * Stop Loss: 0.69490 (placed safely below immediate dynamic support and structural consolidation floors). * Take Profit Targets: * Target 1: 0.70240 * Target 2: 0.70500 Scenario B: Bearish Rejection (Short Entry) * Entry Trigger: A clean 1-hour bearish rejection candle at overhead resistance followed by a breakdown close below 0.69740. * Stop Loss: 0.70050 (placed safely above immediate resistance high wicks). * Take Profit Targets: * Target 1: 0.69490 * Target 2: 0.69240 4. Executive Summary The AUD/USD 1-hour chart displays a robust bullish trend posture as price advances aggressively from its structural low at 0.68990 to challenge primary resistance at 0.69923. Technical indicators strongly favor buyers, anchored by a 14-period RSI reading of 63.01, a positive MACD alignment above zero (0.000446 / 0.000432), and minor negative Bears Power at -0.000171. However, because price action is compressing directly beneath a major horizontal resistance barrier at 0.69923, placing long orders directly at current resistance carries short-term pull-back risk. High-probability trade execution will depend on patient confirmation: traders should look for either a verified 1-hour candle close above 0.69930 to target a retest of peak highs at 0.70240, or a disciplined pullback retest near 0.69740 to enter with superior risk-reward parameters. Always enforce strict risk management and maintain a minimum 1:2 risk-to-reward ratio across all trade setups.