The hourly time frame currently allows for a trend trading strategy. I plotted a 60 period along with a 120 period . The two combined creates an to spot trend entry points along with the .
Given the current hourly trend, I would be looking at another swing trade sell entry as price exhausts its uptick. Going by what has happened previously, the optimized entry would depend on the price behavior near the possible support turned provided that it holds up. It would also be based off the the or either of the two moving averages. While I personally favor the light dodger blue 60 period , the 120 period navy blue is a better representation of the dynamic resistance price reacts to.
I would currently put this pair on watch as further devaluation is expected despite keeping the RBA keeping the cash rate the same. I don’t usually rely on indicators, but this price behavior calls for a different strategy to trade with.