AUDUSD for a possible swing sell off · E9: Execution Markets

AUDUSD for a possible swing sell off

Been looking at AUDUSD and took a short position last night. This isn’t a signal, just sharing my thinking.

From a technical perspective, price pushed up strongly but started to show signs of slowing down around the recent highs. We’ve got rejection wicks and a bit of loss of momentum in that 0.7150 to 0.7200 area, which for me looks like potential resistance forming.

On the fundamental side, I’m still leaning slightly risk-off overall. There’s ongoing geopolitical tension and uncertainty around inflation and rates, and that typically doesn’t favour AUD strength in a sustained way.

So for me, this is a combination of:

Price hitting resistance

Momentum slowing

Macro backdrop not fully supportive of risk assets

I’m treating this as a swing idea rather than a quick trade, and I’m happy to be patient with it as long as the structure holds.

Let’s see how it plays out.

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