• AUD/USD bulls are in control as pull away into critical resistance. 
• A break of 0.7200 will be a significant technical development. 

The bulls have started to crack a significant amount of the critical supply area on the daily chart, ploughing through heavy volumes between 0.7180/90 area with eyes on 0.72 the figure:

AUD/USD daily chart

The bulls are firmly rooted in the critical resistance area following Wednesday's strong advance. A push beyond 0.72 the figure with a daily close could spell disaster for trapped bears.

However, the W-formation could hamstring the bulls and the 38.2% ratio is compelling as it currently meets with the neckline of the formation.