bigger the time frame, more is the probability of success of price action. An intraday position can be taken in AUDUSD after it breaks the previous high. It is already respecting the upper zone as floor after its breakout. the first target is in the ratio of 1:1 with the Stoploss(which is not a wise ratio, but it is a crucial level to watch). If the first target is taken down with good momentum, we can expect it to rally a lot higher. The next targets can be set accordingly then.