As shown in the chart we have a few confirmations shown that the SELL off period should continue for a little while longer whilst the price sorts itself out.
NFP is tomorrow, so you can expect things to change depending on the news. This being though, we are technically supporting the US Dollar when selling this pair, which works well with odds on NFP.
ENTRY -...
BUY as shown when the price strikes around the support area shown.
ENTRY - You could probably enter, but its best to wait for the price to continue dropping first.
Short AUDUSD on the hourly.
Bollinger Bands signalling reversal, STOCH is crossing over bought and generally price action is pointing that the attempted previous BUY will now swing into a SELL.
Long or Short depending on where the price ends up going.
If it breaks above the channel, BUY in for a BIG SWING.
If it breaks below the channel, SELL scalp for re-test
Depending on news, it could be a huge buy in up to resistance.
Looking at the forecasts, its likely the news will be bad for US and confirm the reversal that is pending on the 4hr.
Enter trade at 13:00, with TIGHT SL to prevent damages to your equity.
BEST CASE: We want bad news, to confirm the BUY in on this pair. Good news, will just exhaust the current sell-out.
