AUDUSD Breakdown Analysis

Looking at the Hourly time frame we see AUD ranging between support and resistance area. This week we might see the consolidation to continue or we can expect a break to the upside or downside. I'm personally looking at the break to the upside for if you look at the Daily time frame we want to see price retracing up more to a daily 62% Fibonacci level. COT reports shows the AUD still on a extreme low and a big shift in the market is expected soon.