Technical Glimpse: 

RSI is biased higher and has scope to run.

EOD stochastic evidences bullish crossover at oversold levels. %K crossover near oversold territory on slow stochastic curve is also clearly evidencing selling pressures.

Overall, the major trend has been downtrend dominated by the bears with intermediate upswings maximum up to 0.7350 in short term.

Hence, we like to stick with basics and don't want to buck the trend, be it looks pretty simple, silly or no matter what.

Trend in short term may bounce but certainly not above 0.7350 with more downside potential.

Hedging and Speculative Perspectives:

Our last weeks' combo strategy must have derived unimaginable positive cashflows from either way, (i.e. long on 0.5% OTM put and shorts on 2D 1% ITM call).

Our previous call:

http://www.econotimes.com/FxWirePro-AUD-USD-bulls-seem-to-have-exhausted-again-combos-for-hedging-and-binary-calls-to-speculate-131735

Now is the time to book profits the above positions and modify the portfolio with ATM delta calls and ATM delta puts.

Yes, double weights on 1W ATM 0.51 delta calls and 2W ATM -0.49 delta put options.

One can observe in the diagram rising delta effects upon rising exchange rate AUDUSD and shrinking as the underlying spot rate dips which means our underlying outrights are fairly hedged against irrespective of rate scenarios.