Buyers slowing down, RSI divergence so don't imagine it to break out above its resistance area.
Will be watching to short this back down to 1.67 area, and also keeping an eye on and see what happens at the trend line.
So after bouncing off the uptrend support line, it has got to an area where I beliebe will consolidate for a little then continue bullish to the upper falling trend line.
Area 109.25 has historically been an important support/resistance area.
I believe AUDUSD is now forming its downtrend. Daily is in a downtrend. Failed to break thru long term downtrend resistance. Fallen thru its uptrend channel and maybe forming next channel down.
Still waiting for a pullback. It has clearly fallen thru its long term support level and might see it retrace back to it (0.685)
From there I will be looking at shorting...
If you can see on the 30 min chart it is forming lower highs and lower lows, possibly getting ready to fall thru its support and onto the lower uptrend line. Also MACD is divergent so we should see some bearish action *fingers crossed*