Looking at the H4 chart, my overall bias for AUDUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to head towards the 1st support at 0.65849, where the 38.2% Fibonacci line and previous swing low is. In an alternative scenario, price could possibly head back up to retest the 1st resistance line at 0.67711, where the 61.8% Fibonacci line is.
Trading Recommendation
Entry: 0.67711
Reason for Entry: Retest of the 1st resistance line
Take Profit: 0.65849
Reason for Take Profit:
1st support line and previous swing low
Stop Loss: 0.68508
Reason for Stop Loss:
Where the most recent swing high is
