AUD/USD soon good to short?

Hi guys,

I’m watching the weekly chart of AUD/USD, and what it tells me is that this pair is on the very support level of a large consolidation box.

There is a picture:

Once it falls below the level of blue line, it should be a sign free fall selling. However, if it bounces back, does it also mean that I can then start short term buying by tweaking the timing in 4hrs or daily chart?

Thanks!

wllen1

According to my charts aud/usd in the last 2 years has always reached a price peak late Feb/early March before taking a plunge. I can see a few fundamentals (retail and cpi) that have effects on the AUD this time of year (probably few other western countries as well). Short term buys ? Always long oppturnities but not sure it’s the safest time (IMO) to be long the AUD

So in your opinion, its wiser to wait fall below support of consolidation, and then start selling?

That’s what I would go off based on your charts I would be short when it fell below that blue line. I have not looked into the 4hr charts based on history PA in feb/mar. When I look back over the weekly for the last few years the candles (range) seems very small.