The AUD/USD price inched higher in latest intraday trading amid the dominance of the main upward trend in the short term as the price trades alongside the trend line, while buoyed by piercing a downward correctional trend line, thus tackling the resistance of $0.6305, which represents the neckline of the positive Head and Shoulders pattern that’s contradictory to the downward correctional trend.

 

However, the price continues to suffer pressure due to trading below the 50-candle SMA, with negative signals from the Stochastic after reaching overbought levels, representing a strong obstacle to recovery.