Sentiment is extremely negative for AUDUSD , which doesn't make any sense, given the in this pair, and the current daily uptrend, as well as the signals in multiple timeframes, copper's strength, the relentless iron/steel rally, and Australia's fundamentals, both regarding GDP growth, as well as rate differential against other currencies, weighing in political risk, and also demographics. It's a bit hard to justify shorting it, so, let's try going long once more.
The daily offers a tight stop at 0.75827, but if you want, you can just use the monthly stop at 0.75248 for now.
PS: As a reminder, I'll attach the monthly copper chart, I think the lag in AUD against iron ore and copper can resolve in a violent breakout in this currency pair, effectively closing the spread with these they export.
The do or die moment is near...if we don't break above the rate cut top here, and make a solid daily LOW above, we're screwed. If we do, we need to break the top of the election high, in the same manner, and then break above the highest daily low since $AUDUSD bottomed. That will be a massive feat and would warrant 'buying like CRAZY'.
Potentially this is the breakout that resumes the strong rally.