Swap dealers are stretched short the AUD. Great CCI divergence on the daily chart & good on the weekly. Resistance at 1.62, however wide stop due to Thursday’s GBP economic calendar release.
Update: order triggered at 1.6210
Position closed, 9/8/2017: closed at 1.635 due to 15 days of market choppiness, no significant change in retail positioning and the triggering of a correlated €/£ short; gain on trade +11.8% of required margin.
I will re-evaluate this pair before upcoming BoE meeting.
Update: £ accelerated a few days after I closed out, I bought on the pullback to 1.65 and held until the RBA assist gov. speech; gain on trade +24.4% of margin.