Pair: AUD/USD HR News: Thur., Fri. OBSERVATION: Price declining after hitting resistance level previously hit in May 2015. I will enter short on this pair after todays candle closes below the marked zone. 1-week view shows a breakout happened on the 10th of July meaning that price could be on its way down to retest the 0.775 area.
Since price actions spike up! we have seen strength in the dollar! my bias on this pair is currently bearish due to price action pulling back into previous structure (with fib confluence in the same area) and having a instant reaction once in that zone. i predict price will drop down to the 1.28100 level (previous resistance now acting as support) BUT WE SHALL SEE