AUDUSD 4hour Analysis 1/11/20

AUDUSD Long Idea

The monthly & weekly timeframes are very bearish, however, the daily timeframe has been in a bullish trend since October 2019

Recently we have seen the 88.6% fib level tested followed by a confirmed higher low

Sticking with the daily bullish trend we would like to see a retest of minor broken resistance around 0.68800 followed by strong bullish setups

We would then look to enter long and target back toward our 0% around 0.70200

If we see a fail to push higher it is likely price action will test the supporting daily trend line