Personally, I think there is no reason for going long on AUDUSD this time, as the current trend is seriously bearish. In the H1 timeframe, check it out, a pin bar has formed and is almost rejecting the 50% Fib level before reversing to the downside. Furthermore, a break and retest of the support level have already occurred, and the wedge has been broken by the price to the downside also. This means we have to consider ourselves to be bearish on this currency pair for now.
