How low can you go? : AUD update
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With expectations of DXY strength, AUDUSD is well positioned for a short entry. The currency is currently rejecting a resistance level. It's also important to note that XAUUSD & XAGUSD are still very bullish, therefore, I'll be careful with this one.
I'll be waiting for tonight's CFTC COT Weekly Data to confirm whether short positions were added to AUD futures. Last week, we saw that positions remain unchanged after short positions were closed in the previous week.
If long positions will be closed and short positions opened, I'll be more confident getting into this trade
I'll be waiting for tonight's CFTC COT Weekly Data to confirm whether short positions were added to AUD futures. Last week, we saw that positions remain unchanged after short positions were closed in the previous week.
If long positions will be closed and short positions opened, I'll be more confident getting into this trade
Note
Long positions closed this week. No proper closing of short positionsNote
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