AUD/USD false break reversal

The AUD/USD chart is super interesting to watch and trade this week.

It fell yesterday to a fresh multi-year low, but rallied from its lows to close the day higher after Trump delayed tariffs on the USA's northern and southern neighbours.

Anyway, the AUD/USD has potentially formed what looks like a false break bullish reversal pattern against the January low of 0.6131.

The bulls will want to see rates now hold above Monday's high (that too, being a nice a hammer candle). If seen, we could see further follow-up technical buying in the days ahead.

By Fawad Razaqzada, market analyst at FOREX.com