If the next candle closes outside of this channel then I can see a bullish run up to the key resistance level.
There are 5-6 wicks to the upside failing to close out of the channel as opposed to 3 to the downside.
AUD/USD failed to close above this key level before market closure.
It has tested this support level twice and I think we could see a potential reversal back down to the support level.
If it retests this then I could see it taking a bullish run through the key level and to the higher resistance level marked.
However, it could simply penetrate the key level...
GBP/AUD has been in a downtrend but it appears there is a bullish candle trying to penetrate the trend line but has failed to close out as of yet.
On the 4 hour chart it appears that the bulls could push this up and if it manages to close above this trend line we could see it push to the key level resistance area.
There has been a sharp downtrend and it has tested a key resistance level three times.
There is an inverted hammer suggesting a bullish run at least to this key level area where it could retest again and plummet or break the level.
This is a good opportunity for a 40 - 50 pip long.
