I've been watching AUD/USD pair for quite a while now. Here are my reasons on AUD/USD short : - H4 chart bullish trend had been broken down and currently having a pullback to the upper side - Fibonacci in H4 confirmed the resistance at 0.786 level and should be dropping to 0.382 level - Resistance can be clearly seen on the H1 chart @0.72377 (Currently struggling to break , ADX below 20) - D1, weekly, and monthly charts are overall bearish - Fundamentally USD is getting stronger because of the war situation
Here's a reasonable entry and exit based on Fibonacci retracement: Entry : 0.72340 TP : 0.71679 Stop Loss : 0.72854
Please mind your broker's spread and your money management.