As it is clear from the chart, AUDUSD price has broken out of the rising wedge and retested the horizontal resistance, which was successful in bouncing the price.
The MACD line is about to break the signal line and the MACD bars has already turned to light red.
A head and shoulders pattern and a pullback to the trend line are both visible. It is ideal for a long position.
We have a bullish bias that price will rise from the buy entry at 0.69200 on the H4 due to price action that is moving above the ichimoku cloud and along the ascending trend channel.

• There is resistance 0.69738, followed by resistance at 0.70241 and 0.70558.
• There is support at 0.69216. Below, there is 0.68844 and 0.68620.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.