Daily AUD/USD candlestick chart showing V-shaped recovery above the 21-period EMA. Source: TradingView
The 0.001-brick Renko chart continues to print a clean run of green continuation bricks, underscoring firm upside control from the lows. That move has carried price through the 500 SMA, a level that had previously acted as a ceiling on rallies, which strengthens the near-term bullish case. The Z-Score SMA does look somewhat stretched in the short term, so a brief pause or shallow pullback wouldn’t be surprising, but the broader intraday structure still looks constructive. With the Supertrend holding green, momentum remains intact and the path of least resistance still points higher for intraday swing traders.
