• AUD/USD rally has potential to spur short-covering ahead

• Last 0.6214, carving a path out of Bollinger downtrend channel

• Thurs close above 0.6209 will nullify bearish chart signal

• That could cue a consolidation higher to 21 DMA at 0.6295

• But some resistance may be met near 2023 low of 0.6271

• Dollar longs reassess amid crowded positioning
AUD:

(Ewen Chew is a Reuters market analyst. The views expressed are his own.)