AUD/USD Is Rising

After several months of moving to the downside AUD/USD finally found some support at 0.7410 and formed several very telling candlesticks on the weekly time-frame that were a very good signal for a likely trend reversal. Namely, the pair formed several hammer candlesticks and one inverted hammer candlestick, all above the aforementioned support level. The pair did bounce off from it and is currently still moving to the upside. The closest target will likely be at 0.7690, which is the (MA)89 indicator on the weekly time-frame. If the pair breaks out above that resistance it will likely continue rising towards the last high, which is at 0.7810.