The AUD/USD pair initially rallied during the session on Friday, but turned back around to form a negative candle. This negative candle of course signifies of the market my pull back and that would of course makes sense that we have completely broken out above the resistance. After all, it’s typical technical analysis to retest areas of resistance for support. With that, we believe that this market should continue to show bullishness over the longer term, although we recognize that we need to make a fresh new high in order to feel comfortable due to the longer-term charts.
