If there is a candle that forms above the red line, then we may expect a bull move up to 0.75000. This is an important resistance area as AUDUSD has tried to break it twice already in the past. The first time occurred on July 2019 and the second time occurred during December 2019. If this fails, we can expect a movement downwards back to the 0.66000 area.
Comment:
The forming candle must have a bottom wick that touches off of the red line as support. Watch out for a false break out though.