On 4-hour chart, the AUD/USD currency pair is pulling back after it reached a fresh two-year high. On the daily chart, a candlestick combination of Evening Star has been formed thus signaling the bears strengthen. In case AUD/USD breaks through Fibonacci correctional level of 23.6 that will confirm this viewpoint.
For those who earlier have opened long positions it is recommended to close them if the support level of 0.9270 is broke down since it will indicate that the uprising trend is breached. Earlier on 4-hour chart, AUD/USD has formed the Morning Star combination, which is a signal for upward motion.
This combination developed around the mark of 0.8770, where the bulls increased their influence and a pullback after a downward movement took place. The fact that the Morning Star combination shaped nearly the lower limit of the ascendant trend (a daily chart) supports an upward motion.
