This looks a compelling short trade setup; today's candle is a neat shooting star at the major resistance level of 80 sharp. Plus, some more confirmation comes from the approaching 200 EMA, which acted as dynamic resistance all the way along this marked downtrend.
AUDUSD is having an hard time to breach 0.7700 level. After the false breakout back in late April, another attempt failed today with the pair printing a neat rejection candle.
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Bearish flag on the daily chart, while on H4 time frame we can clearly see a bunch of bearish rejection candles (printed by my custom script) just in conjunction with the EMA200. I'll sell the break of recent lows.
Rising trend line, which was part of a major ascending triangle, was broken 0n 8/11 and now a retracement towards 1.3000 is taking shape; this level lines up with a previous structure (yellow rectangle) plus the 50% fibonacci level. The conjunction of the two could hint a resume in the downtrend.
A combination of technical patterns is taking shape here; both rising trendline (blue) and wedge (orange) may hint a drop in price action.
Wait for a neat break of such figures before pulling the trigger.