The AUD/USD currency pair failed to break through the resistance level of 0.9965 and is pulling back now.
Earlier on a daily graph the AUD/USD has formed the combination of candlesticks Bullish Engulfing, which indicates an uprising movement, confirmed further.
This combination of candlesticks developed near the support level of 0.9537, where the bulls started increasing their influence and a rollback took place after a downwards motion. This combination of candlesticks provided a good opportunity to open long positions.
A breakout of the resistance level of 0.9710 confirms this point of view. The breakthrough of 0.9965 will allow the pair to reach 1.0182.
However, in case the reversal happens and the AUD/USD breaches the support level of 0.9537, then long positions should be closed, as it will lead to the further decline to 0.9300.
