Technical analysis on AUDUSD.
AUDUSD - Daily
Market (21 above 55) is flat. Price (5 above 8) is bullish. Stochastic is moving up. Price is in the top of the range MM3/0.77 and I will look to sell this pair at this level. Support is at MM1/0.750. Also be aware of MM4, Bulls will try and push price up to that level as it is their monthly profit zone.
AUDUSD - H4
Market (21 above 55) is flat. Price (5 above 8) is bullish. Stochastic is overbought. Price is at WR2/0.77/MM3 resistance level and in the weekly bulls profit zone. I will look H1 chart for a more precise entry.
AUDUSD - H1
Market (21 above 55) is bullish but it looks like momentum is slowing down. Price (8 above 5) is converging. Stochastic is moving down. I am waiting for price to either find resistance at WR2/0.77/MM3 or at DM3 before I sell this pair. I will also look at my M5 chart for lower lows and lower highs before pulling the trigger.