Last night we got a small bounce for about 30 pips off the bottom of the AUD/USD 60 minute channel I pointed out last night. This morning we are awaiting the ISM data from the U.S. which may set up a decent trade on AUD/USD again. The way I see it, we have a couple of options to trade this pair today.

1. Sell AUD/USD post ISM data if a bearish candlestick appears at the top of this channel.
2. If it breaks out of the channel, wait to buy a bullish candlestick on a test of the channel from the topside.

Best of luck to you!

-Ryan