AUDUSD: Weekly Chart Outlook of Possibilities

Was looking at the 1hr chart to help me make some good trading ideas for the 5/15 min charts. Wanted to see what structural levels I can find to start looking for opportunities. Looked at the 4 hr chart, then the daily chart, and finally the weekly chart to see this setup.

Here are the notes I wrote for myself:

• Price Action has been in overall Bullish Trend since 2001 with it making a LL at around 0.60 and a HH at 1.10.
  
  
• Currently Price Action is coming down to a level between 0.71 and 0.72 which is filled with Fib confluence.
  
  
• We have the 0.618 retracement of IS to the HH in 2012 at 0.71900 and the 0.786 retracement of LL in 2009 to HH in 2012. Also the current price is around a structural level that can be traced back to 1985!
  
  
• To top this all off, there is also an AB=CD Pattern with a 3.0 BC extension that is near completion.
  

IF/THEN:

• If price action bounces off of this support region, then it will move up to the resistance (red dashed line) at 0.796. This corresponds to a 0.382 CD retracement. On the 1 hr chart, we will find bullish opportunities presenting themselves.
  
  
• If price action moves even lower, then shorting opportunities will be present in the 1 hr charts up to the 0.65 level.