The indications are that the MARKET is already SHORT AUDUSD. Fundamental traders are in that trade and for good reasons. We want to find the proper zone to engage AUDUSD, being cognizant of a potential short squeeze and position wash-out.
We will watch price action and wait for it to get closer to 0.7500. The trend is still LOWER, we always want to trade with the TREND, but have to be aware of positioning and sentiment. It seems a bit one sided and a SHORT SQUEEZE seems inevitable.