Looking at the H4 chart, my overall bias for AUDUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect the price to head towards the 1st resistance at 0.69161, where the 78.6% Fibonacci line and previous swing high is. In an alternative scenario, price could possibly head back down to retest the 1st support line at 0.67711, where the 61.8% Fibonacci line is.
Trading Recommendation
Entry: 0.67711
Reason for Entry: Retest of the 1st support line
Take Profit: 0.66694
Reason for Take Profit:
Previous swing low
Stop Loss: 0.69161
Reason for Stop Loss:
1st resistance line
