AUD/USD

AUD INDEX Statistics SPECULATORS |v COMMERCIALS
– Percent of OI Longs: 16.4 | 71.6
– Percent of OI Shorts: 56.1 | 24.7
– Net Position: -80185 | 94709
– Gross Longs: 33217 | 144539
– Gross Shorts: 113402 | 49830
– COT Index Reading: Extreme Bearish | Extreme Bullish

Scenario A: Wait for the bull market to turn into a bear following the major trend, along with testing of the rejection zone.
Scenario B: Bulls could slight break rejection zone testing 0.71000
Scenario C: Breakout from the rejection zone and continue the upward movement (Invalid analysis).

Recommendation: Let the price at least test the rejection zone before looking for a shorting opportunity "