Weekly high test.
AUD hasn't had a good pull back against USD
COVID lockdown in Victoria and Border closures with QLD (Brisbane) and NSW ( Sydney). Huge hit to economy.
4HR/1HR - Im only looking to make small trades.
FIB retrace on the 1 hour. I would like that move slightly higher before the move lower. This giving a better value entry and affords that STOP more protection.
Ideally the Stop would be above the extreme highs, but I see the lower level as a point which will offer resistance assisting the move to TARGET.