AUDUSD is on a very long-term downtrend and after each consolidation phase it makes a new low, this trend was one of the best FX trends to ride and it still is!
The pair broke its support trend line on April 2018:
Since then the bears had control and kept pushing down, in last few weeks bulls tried to push the price up and they some success but bears got the control back and the result was last week bearish rejection candle:
When there is a trend and you see a rejection candle in favor of trend after a pullback that’s a high probability trade, if you short it now you can target the last low 0.684 with a good risk:reward ratio:
The stop will be placed above the previous resistance level.