The trend of AUD/USD pair movement was controversial as it took place in the uptrend channel. Due to the previous events, the price is still set between the levels of 0.7468 and 0.7541.
So it is recommended to be careful while making deals in these levels because the prices of 0.7541 and 0.7468 are representing the resistance and support respectively.
Therefore, it is necessary to wait till the uptrend channel is passed through. Then the market will probably show the signs of a bullish market.
In other words, buy deals are recommended above the price of 0.7468 with the first target at the level of 0.7595. From this point, the pair is likely to begin an ascending movement to the price of 0.7595 with a view to test the daily support at 0.7645.
Equally important, the RSI and the moving average (100) are still calling for an uptrend. Hence, the market indicates a bullish opportunity at the level of 0.7468 in the H1 chart. However, if the pair fails to pass through the level of 0.7541, the market will indicate a bearish opportunity below the strong resistance level of 0.7541.
The trend is still calling for a strong bearish market from the spot of 0.7541 (last bullish wave). Also, it should be noted that sometimes sellers are asking for a high price. In this regard, sell deals are recommended lower than the 0.7541 level with the first target at 0.7468.
It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 0.7413.
Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.
However, stop loss has always been in consideration thus it will be useful to set it above the last double top at the level of 0.7645 (notice that the major resistance today has set at 0.7645).
Also, if the trend is buoyant, then the currency pair strength will be defined as following: AUD is in an uptrend and USD is in a downtrend.