Nice idea on AUDUSD and there may be bearish bias as you have identified. For our set up, we have identified the key resistance and support levels for the shorter term. The resistance we have identified is at 0.7295, which is just above the sell entry level that you have identified. It is a horizontal swing high resistance with 61.8% Fibonacci extension and 23.6% Fibonacci retracement. Stochastic is approaching its resistance at 97% where a further drop could occur. If a further drop does occur, we may want to look at the 0.7201 support level. It is a horizontal swing low support with 38.2% Fibonacci retracement. Looking forward to seeing how things develop.
Please have a look at our idea and share with us what you think.
Please have a look at our idea and share with us what you think.