AUDUSD First Rise, Then Fall

As you see, we have a sharp downtrend for AUDUSD which is currently in the bullish correction phase in the form of an ascending parallel channel.

Currently, there is no bearish signal yet and price is retracing and rising.

I expect more rise in price for now, around 0.76 - 0.7645 which is a supply zone there and almost equivalent to 61.8% of fibonacci reversal level either.

MACD shows a negative hidden divergence:
Although price is making a lower high, MACD is making a higher high which gives us a bearish signal for future and we might see a fall from the mentioned levels with two possible targets: 0.7475 and 0.7340

You can also enter short after the downside breakout on the ascending channel’s lower band.