Earlier on a daily chart the AUD/USD has formed the combination of candlesticks Bullish Engulfing that indicates the uprising motion, confirmed further.
This combination of candlesticks developed near the support level of 0.9537, where the bulls started to increase their influence and a rollback took place after the downside movement. This combination of candlesticks provided a good opportunity to open long positions.
The breakout of the resistance level of 0.9710 confirms this point of view. Now the upwards movement with the target to 0.9965 is expected. The breakthrough of 0.9965 will allow the pair to reach 1.0182. Nonetheless, in case the reversal takes place and the AUD/USD breaks down the support level of 0.9537, then long positions should be closed, as it will lead to the further decline to 0.9300.
