Yesterday, the bulls were noticeably present after the market gained momentum and moved further away from the near-decade lows of US$0.6660-65.
The bulls managed to carve out an intraday high of US$0.6735 before its retreat.
What has inspired this upward move is bullish divergence viewed from the 3-day RSI and the MACD on the daily chart which has been diverging negatively against the price for 6-days which could indicate that the AUD/USD pair might have already bottomed out in the near-term.
However, the bulls have a lot of work cut ahead of them as there are many resistance levels seen above, with the immediate level viewed from US$0.6735 (minor), with the supply zone viewed above at US$0.6765-75.
Conversely, a decisive break of the critical support level at US$0.6660, would expose the region of US$0.6400, viewed from a broader aspect.