AUDUSD Time to Reverse?

After a significant drop, price has approached to the yellow support zone and failed to break it.

Currently, we can see the upside push from the support zone and the last 4H candles have been closed strongly bullish. But, price is still in the downtrend and hasn’t given any additional bullish signals.

If price breaks the last high at 0.6970 and closes a bullish 4H candle above this level to make a higher high, we need to wait for a bullish reversal pattern formation like double bottom or Inverted Head & Shoulders pattern as confirmation to enter long with a target at 0.7099