AUD/USD continues rallying as it climbs from the bottom it formed on September 11. The new up leg has broken above a key trendline for the correction of the August rally. This is a bullish sign and suggests it is now in a short-term uptrend.
Given it is a principle of technical analysis that “the trend is your friend” the Aussie is likely to continue going higher. It could match or almost match the 0.6824 August 29 high. The resistance level at 0.6799 ( July high) is another potential target and could provide firm resistance to bulls.
Momentum, as measured by the Relative Strength Index (RSI) is slacking off a little and suggests some caution before adopting an overly bullish stance, however, it is broadly mirroring price, a fact that is supportive of the current mini-rally.