OANDA:AUDUSD Australian Dollar / U.S. Dollar
Possibly crunch time for the AUDUSD . We have indecision candle at the top of channel resistance which is also the 50% fib of the most recent downward move. However, we are also in the longer term uptrend which you could review the recent channel as a correction with price sitting at the 61.8% fib. How to play this? I'm looking for a break and close to the upside of the channel and above the 61.8% fib on the previous move or a break below the indecision candle which would take us below the 38.2% line the shorter term move. My bias technically is to the downside. How would you play it?