The Australian Dollar is attempting to make a comeback against the US Dollar. AUD/USD broke under a bearish Rising Wedge chart formation on Monday. 24 hours later, the pair turned higher and left behind a Bullish Engulfing candlestick pattern. This is a sign that the bulls aren’t quite ready to give up just yet. Follow-through will be key in the remaining trading sessions this week. An upside push from here could maintain the bullish posture since November. Otherwise, confirming a breakout under the wedge would offer an increasingly bearish outlook.
