AUDUSD Daily:
• Even though price closed as a bearish engulfing candle. I am not convinced it is ready to move down now as it didn’t break below 0.7029.
• After rejecting from 0.7029 I do see price now making its way back up to 0.7100 4hr resistance for a retest.
AUDUSD 4hr:
• Price is on most likely its way up to 0.7100 + 0.62 Fibonacci level, could also be setting up for a 3rd trendline bounce.
• Before entering any buy positions, we need to see a break and a retest of 0.7500.