AUD/USD technical analysis: Off session lows, looks north on bullish Marubozu

• AUD/USD charted bullish Marubozu on Thursday.
• The daily chart shows a higher high, higher low pattern.
• Path of least resistance is to the higher side.

AUD/USD is currently trading largely unchanged on the day at 0.7073, having hit a session low of 0.7054 earlier today.

The currency pair created a bullish Marubozu candle on Thursday, which indicates the bulls controlled the price action throughout the day.

More importantly, with the Marubozu candle, the pair has established a fresh "higher high" above the April 7 high of 0.7048.

As a result, further gains to 0.71 could be in the offing. Supporting the bullish case are the ascending 5- and 10-day moving averages, rising MACD and an above-50 reading on the relative strength index.

Daily chart

Trend: Bullish

Pivot points