1) AUD/USD is near a critical point which is intersection of upper band of downward channel+Horizontal Resistance+23% Fibo+EMA 100 and it is almost completing Double Bottom pattern.
2) Based on Elliot Wave It seems Wave 5 is completed.
3) MACD & RSI shows Divergence.
so, based on these three it might be a perfect long position with a high Reward/Risk Ratio if...
On Sep 2019, price bounced from very strong support which was intersection of 3 powerful long time supports, and started to go up since then.
Since Jan 2020, NZDUSD started a correction and recently in most of time frames below daily it os oversold and in hourly time frames shows divergence.
I showed 3 scenarios in my published idea in which in worst scenario...
Based on my counting wave 4 completed at 61.8% of wave 3 and 71.8% of wave 1 to 3 .
In most of timeframes NZD/USD is Oversold and shows Divergence. .
There is wonderful Long opportunity with al least 300 pips to reach top of wave 3