Aud/usd is at the top of the bearish pennant on the daily. It appears to have made a lower high relative to the previous days as shown by my arrows.
It is also at Mr1, which also corresponds with the 78.6 fibonnaci level. Furthermore, stochastics are showing signs of this pair being overbought.
Gold being correlated with the aussie dollar, is something to keep aware of, as shown on my daily chart, it has been dropping for the last two days,the daily stochs are down, and h4 21 and 55 ma’s have just crossed to the down side. so this may be in support of our potential ausie short.
For entry, I will look for significant reversal patterns, as on lower frames, we are still on an uptrend. as shown on my chart.