Near Term Trend: Turning bullish for bounce
As of 7/13/18 close: 0.74220
Last week, I suggested buying / covering on a drop to 0.7352 with stops on a weekly close below 0.7300 and with an upside target of 0.7633.
Things turned back to bearish on the AUDUSD chart with Wednesdays close back below 0.73870. That should not have happened if the bulls were able to remain in control short-term. That break leads me back to selling rallies rather than buying dips.
Id look to short bounces to 0.7442 with stops on a 240-minute close above 0.7450 and with a downside target of 0.71594.