AUDUSD - LONG overall, short pullback

If you take into account the Wall Street cycle we can see the main points in the market move. On a technical level we have a weekly Elliott 3 top forming looking for a pullback to point 4. This is supported by the DXY oversold level on it's stochastic.

COT data is showing a move toward short positions (not heavily) so again further support of the drop.

Extension levels show the regions 0.7600 and 0.7450 as areas of interest for the drop.

Disclaimer
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