Last week we expected that AUDUSD will make a push on the upside to test the structure at Monthly Pivot Point area and then if the move fails to break above the resistance zone, we were going to take a short position in anticipation of a test of the bottom part of the channel which can be seen in Weekly Chart. This analysis for the last week failed due to not enough action on the pair, where it traded in an arrow range for the most part of the week. For this week our expectations remain the same as the market conditions have not changed much. Price is at the same structure where we were expecting for the price to get bullish strength and test the target on Monthly Pivot Point area, so for this reason this week are expecting the same. If price moves up to the Monthly Pivot Point area, we will be looking for potential bearish evidence and then look to enter short around this zone. Our analysis will be invalid if price does not reach the Monthly Pivot Point or if it reaches and then breaks and closes above it.