The price of AUD/USD formed a bullish candle on the daily timeframe yesterday, closing the trading week near the level of 0.7250. I expect the continuation of the uptrend and the overall bullish trend towards the resistance level of 0.7315. I believe that the current resistance at 0.7266 will be able to break at the start of the next trading week. From 0.7315, I plan to open short positions on the instrument counting on a good correction. Further actions will depend on the situation. If a bearish pattern forms, we can expect a significant price drop. Otherwise, we will continue to rise towards new highs in the direction of 0.7700. There is a monthly resistance level there.
