AUD/USD: Hanging on to longs for now

A combination of the budget cuts announced by the Australian PM and the RBA minutes (not particularly dovish) have helped the AUD/USD to rally to highs near .9170. Pull-backs have been quite shallow so I’m happy to stick with my long position. The daily chart looks so ridiculously oversold to my biased eye that I’m afraid of missing the big short-squeeze if I book even partial profits.

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