The AUD is becoming extremely overbought. (update 1)

Huge long position/s set on the AUD held mostly by banks. Despite the fact the AUD now is overbought and expensive with *puts on downside protection being cheaper. Price Channels show that the AUD is now very overstretched. The rally now looks like topping out.

*Market rumour that there are 'large' Double No-Touch options @ 0.95 and 0.85. Probably hedge funds. Banks will just cut a massive long.

And you can't beat this double top forming (chart below). With extreme risk on/off every 24hrs. Any panic sell will be significant.

refer: