AUDUSD UPDATE

From my last analysis on AUDUSD, I said that there has a big rejection on the weekly timeframe, a further downside is expected, and now the price continue to push to the downside toward the daily demand zone, as highlighted on the chart.

From the institutional' point of view, they were shited their bearish bias to bullish bias on the AUD. In today's new report, long positions added around1.7k, and 28k of shorts positions were closed. During AUD push to the downside, not because of short added but long added and short closed, this implied they are accumulating their long positions in order to buy at the lower price.

The proper way to approaching this pair is to wait for the retest on the daily demand zone, then we only can look for the long opportunity inside the daily demand zone. If you already short at the higher price, you may risk-free it and hold till the demand area.

The result might not follow my analysis, and this analysis is based on the technical and COT perspective.

Comment below let me know your views on AUDUSD.