AUD/USD shorts

7 thg 6, 2021

I am adding short positions here at around 0.77600. I have identified a strong resistance here on the H2 timeframe (yellow rectangle). This is a counter-trend trade, higher timeframes show us that AUD/USD is overall bullish long-term. Majority of leveraged funds are currently long on the AUD and short on the USD. Along with this, majority of banks are shorting the AUD which is just giving us that extra confirmation. 1:2 RR.