Earlier on a daily chart the AUD/USD has formed the combination of candlesticks Bullish Engulfing, which indicates the 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 pullback took place after the downwards motion. These candlesticks provided a good opportunity to open long positions.
A breakthrough of the resistance level 0.9710 confirms this point of view. The breakout of 0.9965 will allow the pair to reach 1.0182.
However, long positions should be closed if the AUD/USD breaks out the support level of 0.9537, since it will lead to the further decline to 0.9300.
