AUDUSD: One More Move Up, Before A Sell Off

Price is clearly in a downtrend, and it's in a corrective structure after a sharp impulse to the down. Getting ready for the next impulse to the down we should watch for key resistance levels where most likely this correction would end. I've highlighted a level where we may see that a sliding parallel in addition to a horizontal level creates a key zone for a price to find resistance. Keep an eye on a price to reach this zone and then start watching for a setup completion to sell AUDUSD. Meanwhile, we may keep an eye on a short-term buy setup as price heads up to the resistance zone.

Short term buy setup analysis:

Wait for the opening of the market and see if the lower parallel holds as support. In case of a buy setup completion I will post another trade idea addining it to my 50 trades journey (link below)