AUDUSD - Bears taking control?

I got a notification from Netdania about AUDUSD reaching the monthly highs. What I like about this service is that they send out forex price alerts whenever price hits a significant high or low. It was based on this alert, that I went about looking into the AUDUSD.

In the chart below I have the Wolfe waves plotted. When I include the Stochastics, we see that the bulls are still in control.

AUDUSD - Wolfe Wave Charts

In the chart, we see price cutting through the Monthly resistance level 1 at 1.0386. The next resistance level is at 1.0559, which has in the past managed to hold quite strong. Therefore, it is unlikely that the Aussie dollar will manage to breach this level again, given that we have the Wolfe Waves pointing to a bearish outlook.

As such, what's interesting about this trade is the prediction that price is likely to drop to 0.9915 levels around mid May.

I'm including this trade under 'Interesting trade set ups' as this is something significant, considering my last successful analysis on the EURUSD, predicting a price drop in Mach, way back in February.

Conclusion
Trade Closed. Entry @ 1.04569, Closed @ 1.04145
Net P/L: 42.4 Pips