Currently AUDUSD is in a downtrend but I am expecting this to correct up to 61.8% FIB and then come back down to test the weekly low range where it spiked. If this happens we will have a nice buy opportunity up from it bouncing down there. Long term monthly shows sell, weekly shows 2 leg pullback, and daily shows bullish power into a right shoulder zone. We wait for confirmation for any sell entry but right now its bullish. I am currently not in this trade but I might take some scalps on the 500run account.