Description :
Looking at the H4 chart, my overall bias for AUDUSD is slightly bearish as there is a key resistance level, Looking for a sell entry at 0.63645 where below the overlap resistance and 23.6% Fibonacci retracement . We are looking to take profit at 0.68653, which is the recent swing low, Stop loss will be placed at 0.71522, where the recent swing high is.
Trading Recommendation
Entry: 0.63645
Reason for Entry:Key resistance level + descending trend line + 23.6% Fibonacci retracement
Take Profit: 0.62718
Reason for Take Profit:
recent swing low
Stop Loss: 0.64070
Reason for Stop Loss:
recent swing high