the short term up trend on the 4hr has been broken, to continue to the downside. using the fib extension to the 1.618 gives a price target of 22.27. with consolation on the last few hours i see a break though the lows of the resent candle a sign that this will go down and with a stop at the trend line offers a R:R of 1:2.
in a good up trend on the week and daily, just having a pullback, and now is forming a flat level on the 4hr at 2.056, forming higher lows, and inductors converging with the level. i will be look for another higher low to set my stop behind and an entry just in front of the flat level on the break. looking for another big move up hopefully.
using CHris Moody's "sling shot system" indicator price is pulling back into sell area. as can been seen last time this happened (the blue candle with the arrow) the AUD dropped significantly. Also backing this up is the SlowStoch (standard settings) that is about to roll over and show a sell signal. if this sets up and triggers there is the potential for a move...
the monthly chart is showing a healthy pull back to 20 MA, we have not had a pull back like this since 2011. this is showing a strong trend and a much needed pull back for it. i expect by the end of the month we most likely see the rejection and the trend pushing higher