AUD/USD uptrend line retest
The AUD/USD pair dropped in the short term after reaching the 0.6797 level. At the time of writing, it was about to reach the uptrend line, which represented a downside obstacle. As long as it stays above it, the rate could resume its growth, it could approach and reach new highs.
The 0.6726 former low represented a downside obstacle as well. Today's high of 0.6797 stands as an upside obstacle.
AUD/USD trading conclusion
Staying above the uptrend line and jumping above 0.6797 activates further growth. Testing and retesting the uptrend line could bring new buying opportunities.
The upside continuation could be invalidated if the rate drops below the uptrend line and most important below 0.6726. This could bring us selling opportunities.
