AUDUSD WEEKLY OUTLOOK 3/28 - 4/2

AUDUSD IS AT AN INTERESTING WITH GOOD RANGE TO BOTH THE UPSIDE AND DOWNSIDE. THE PREVIOUS 2 DAILY CANDLESTICKS INDICATE A POSSIBLE REVERSAL HAPPENING AND AUDUSD GOING LONG. IF SO, I HAVE TARGETS AT 0.77400 WHICH IS ABOUT 120 PIPS FROM WHERE PRICE IS CURRENTLY. TYPICALLY MY STOP LOSS RANGES FROM 10-20 PIPS ON THIS PAIR. THIS WILL LEAVE ME WITH ABOUT A 1:8 RISK TO REWARD RATIO. ON THE CONTRARY, IF PRICE PUSHES TO THE DOWNSIDE, I HAVE TARGETS SET AT 0.75200. THIS IS ABOUT 100 PIPS FROM CURRENT PRICE. IN ADDITION, WE HAVE A TRIPLE WICK (CIRCLED IN CHART) THAT HAS OCCURRED REPEATEDLY TO THE DOWNSIDE, REJECTED, AND PUSHED PRICE UP. I WOULD LIKE TO SEE A BULLISH AUDUSD NEXT WEEK, BUT WE WILL SEE WHAT THE MARKET HAS IN STORE.