AUD/USD Is Moving to the Upside

AUD/USD has been moving to the upside today and it even broke above the resistance at 0.7525, which coincides with the (MA)89 indicator on the four-hour time-frame. The signal for that move to the upside formed in the end of last week – a distinct hammer candlestick and a spinning top candlestick that are on the same four-hour time-frame, after which there was a brief sideways consolidation but the signal itself proved valid after all. Should the move to the upside continue, the next target would be at 0.7560, which is the (MA)89 indicator on the daily time-frame. A breakout above that level will probably lead to another rally towards the previous high, which is at 0.7610.