1. price trading at the upper channel descending line
2. at overbought or near overbought levels
3. price trading above the 20
4. price trading at the 50-61.8% of the previous down move
The AUD/USD is currently trading at the lower channel point, with a low reading, below the 20 . Therefore, our plan of action is simple rule following, looking for another technical confluence of the above mentioned kind. If the AUD/USD bounces back and fulfills our conditions, we're with-the-trend sellers.