AUDUSD, Daily, Potential Short
Keep your eyes on the key resistance and support levels.
If it closes above 0.75090, then could see rebound to the upside and potentially hit around 0.76 level. Stochastics RSI also indicates that we are currently over sold.
But personally, looking at the Weekly chart, I am leaning towards the SELL side. We can see that we haven't tested the 100 MA level, which isn't far away. If we close below 0.74860, then I would assume we will head to test the 100 MA on the Weekly, which is around 0.74100. I don't think the body will stay there, but a quick swing to that level could happen.
If it closes above 0.75090, then could see rebound to the upside and potentially hit around 0.76 level. Stochastics RSI also indicates that we are currently over sold.
But personally, looking at the Weekly chart, I am leaning towards the SELL side. We can see that we haven't tested the 100 MA level, which isn't far away. If we close below 0.74860, then I would assume we will head to test the 100 MA on the Weekly, which is around 0.74100. I don't think the body will stay there, but a quick swing to that level could happen.