I believe we are at a pivotal moment for the AUDUSD
depending on the next 1 or 2 candles. The yellow line above was a major support level
in the past for the head and shoulders
pattern and was also validated a few more times after that before break at the neckline. If price stays above this neckline in the next couple of candles, I predict the AUDUSD
will consolidate around this area or head up, using it as support. BUT if next candles are bearish
and below this support line than I feel confident in shorting the AUDUSD
with stop lost at 0.7734, target one 0.74005, and target 2 at 0.73043. Support level
should turn into resistance, creating a good risk vs. reward.