AUD/USD SHORT

AUD/USD has been pushing upward for some time now, and is looking very over bought. It has reached a primary level of resistance on a daily time frame that has held price action very well. On a 4hr time frame there is an obvious ascending trend line, that combined with the daily horizontal line creates a triangular entry area. If the line holds you could scalp to the bottom trend line, or wait for the break and retracement of the ascending trend line and take a short position and hold till it reaches the next horizontal line of support which is in blue.