The Aussie has its Oscillators on Dailies at Overbought area, with the 1-Hour chart forming a Wedge Rising and prices hitting the important resistance at 0.9330. All these factors show a possible top or a reversal...
But prices are still in the middle of a major Bullish Channel. And the pullback to the Bearish Trendline that got broken up last week indicates that prices still have room to push even further up maybe to the next resistance level 0.9406.
If u trade the opening on Sunday Evening my strategy is to enter SHORT at 0.9315 with STOP at 0.9335 and LIMIT at 0.9275.
For the upcoming week some caution is required. There isn´t any strong indication that a major Top has formed, so watch out for this Wedge Rising pattern at the 1-Hour chart for entry points.
