Short position potentially happening here, AUDUSD
was on a strong upward trend, we have now hit a strong resistance area
on the daily, using a fib retracement we may seel AUDUSD
start to sell off before continuing the general trend, also we are likely to see a 'right shoulder' forming if this retracement happens. combining this with other research such as RSI
beig at high levels signalling currency being overbought, we are likely to see this pair begin to sell off.