AUDUSD Potential Buy Opportunity

Looking at the Intra-day levels and market behavior, AUDUSD has been primarily bullish. We are currently in a deep retracement phase- which is evident from the flailing price action toward the lows. A look at the H4 time frame illustrates that price is currently almost at the 61.8% retracement level of the last swing to the recent high at 0.74420. That said, price can potentially find support at the 61.8% due to the last key resistance level broken before price created a new swing high, specifically around the 0.72300 price level. If not, price is bound to drop a little further to the 78.6% retracement level which is in relatively perfect alignment with the 0.71600 key daily support- where price found support to push all the way to the most recent highs. If this zone is tapped, I would expect price to push to the upside once again and potentially push all the way to the 0.75350 level (-27% extension). IF, then, price FAILS to head to the upside on either of these two levels, then we are looking at a shift in market direction from bullish to bearish and I will be keen to note how price reacts around 0.70950 to form an opinion about the rest of the month.

Key Takeaways/Pointers Why I'm Bullish on AUDUSD:
-The weekly TF created a double bottom reversal pattern at a key monthly level: 0.7000. This can not be ignored.
-Price action has recently taken out monthly highs= seeking upside liquidity on the monthly level.
-Price had previously found strong support at the 0.70000 key psychological level and pushed all the way to 0.8000 key monthly level as well. This is a second touch of the level and price is showing clear rejection to the upside.
-H4 has been creating higher swing highs and lows.