Future AUDUSD selloff very possible

Updated
Fundamentals: The RBA (Reserve Bank of Australia) kept interest rates at a 12-year high of 4.35%. The COT (Commitment of Traders) Non-Commercial Report for AUDUSD showed a larger number of participants holding shorts over longs but we’ve had about 15k shorts close their positions since the last COT report so there is that going against the bearish sentiment. Net position overall is still negative but it had a positive change of 13k or 13.51% which also goes against the bearish sentiment. % OI for longs is 18.40% while the % OI for shorts is 55.5%, Open Interest being 224.5k which is -14k lower then last weeks reports

Technicals: We get the 3-EMA crossing-over the 10-EMA to the downside while price action is possibly staying underneath both EMAs. Stochastic is facing down while crossing the 50% mark and the Momentum is negative.

Stop loss above the top trend line, Targeting prominent recent Lows.


Trade active
I have entered a short position at around 0.66000 targeting recent lows, Technical confluences all got check off and we have fundamentals backing a bearish sentiment.

Take 3/4 of your position off at the lows, let the rest run. SL is a break of the Top trendline
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