4HR AUDUSD showed an EMA8-13 deadly cross and below key resistance of 0.747. Thus, if prices above 0.747, it will invalidate this downtrend analysis.
If prices below 0.747 and EMA8-13 deadly cross in 4hr, there is a high possibility of a downtrend towards either 50% Fibo or 61.8% Fibo levels. I shorted at 0.74505. Risk management at 0.747.
This is not a buy/sell call. Do double confirm with your analysis.
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First target, 50% Fib hit. Now we have to observe whether AUDUSD has the strength to continue drop to 61.8% fib level.