Nice idea on AUDUSD and there may be bullish bias as you have you have identified. For our set up, we have identified the key resistance and support levels for the short term. The first support that we have identified is at 0.7204 (61.8% Fibonacci extension , 50% Fibonacci retracement , horizontal swing low support), which lies just below the support level that you have identified. Stochastic is approaching its support at 1.4% where a corresponding bounce could occur. If a bounce does occur, we may look at 0.7294 (50% Fibonacci retracement ). Please have a look at our idea and share with us what you think.