AUDUSD bulls came into action instantly after the price dropped to a more-than-two-month low of 0.6507 to test the ascending trendline from the 2020 low. The pair finished the day with a bullish long-tailed hammer candlestick, which is theoretically a positive signal of an upside reversal. Yet, traders will need another big green candlestick to confirm a continuation higher. The exponential moving averages (EMAs) have been capping upside movements around the 0.6598 level over the past week. Therefore, a clear break above this wall is probably required for a rally towards the next resistance of 0.6700-0.6720. Even ... (full story)