The AUD/USD pair again test the mark of 1.00. In case this resistance level is broken through the uprising movement to 1.05 is expected.
Earlier on a weekly graph the AUD/USD has formed the combination of candlesticks Bullish Engulfing that indicates the upwards motion.
The upwards tendency is supported by the fact that this combination of candlesticks emerged on the uptrend after a rebound from the support level of 0.8066, as well as from the Fibonacci correction level 38.2, where the bears did not fixate and the bulls started to increase their influence.
This combination of candlestick shows that the currency pair was declining after the failed attempt to break out the resistance level of 0.9394. Nevertheless, having come closer to 0.8066 the pair reversed.
The fact that the AUD/USD has successfully breached the mark of 0.8855 confirms this point of view.
On the other hand, the long positions should be closed if the support level of 0.9400 is broken through, as it will lead to decline to 0.8765.
