Nice idea on AUDUSD. For our set up, we have identified the key resistance and support levels. Currently, price is approaching our first resistance at 0.7293. It is a horizontal swing high resistance, 100% Fibonacci extension and a 23.6% Fibonacci retracement. Stochastic is approaching resistance and we might see a corresponding drop in price. If a corresponding drop does occur, we may want to take a look at the 0.7156 support level. It is a horizontal pullback support, 100% Fibonacci extension and a 50% Fibonacci retracement.
Please take a look at our idea and share with us what you think.