The AUD/USD Correction Continues

The AUD/USD correction continues. The pair formed a very telling doji candlestick right above the support at 0.6905 and began rising. What is more, it not only started climbing, but it managed to break above the previous high at 0.7279 and it appears it has broken above the resistance at 0.7350. Should this break out be confirmed, we can expect a further move to the upside. I think it is quite possible for the pair to climb quite high until it reaches target 0.7790 – 0.7800 which is another significant level of resistance visible on the weekly filter chart.