+ With overall sentiment.
+ Rejection of 200 .
+ 200 converges with 50% from the last swing from 0.79358.
+ Coincidence of the yearly, weekly, and monthly lines being in the same area as the above confluences.
+ Price forming a continuation pattern.
+ from the two candles on the 8th of April .
+ Deceleration of price and consecutive pinbars on the .
+ Fundamentally the Aussie economy isn't doing too well and rate cuts are expected in the future.
+ To top it off we have two high test candles rejecting this area of massive confluence.
Look for confirmation at the close of the day. If we get that nice pinar we can then look to get short with stops safely above the highs.
AREAS OF POTENTIAL SUPPORT TO LOOK OUT FOR
+ 50 acting as potential minor support.
+ Weekly support at the 0.763 area.
+ Psychological support at the 0.76 area.
+ Monthly + Yearly support at the 0.755 Area.
As usual this is not guaranteed to occur and as traders we are expected to use our own analysis to further confirm our decisions. Happy trading!