The Aud/Usd pair has been operating within a price wedge as indicated on my daily chart, A breakout to either side is expected, as the wedge is beginning to tighten, and there is important news coming out this week for both currencies. We have the Australian interest rate decision as well as the RBA minutes coming out Tuesday, along with retail sales out Friday. We have a large sum of American news coming out throughout the week, including news in relation to monetary policy, and employment. We do have a larger sum of net non-commercial long positions than we do short positions, as shown by the cot report as of the 25th Oct (http://forex.today/the-commitment-of-traders-report-total-non-hedging-fx-open-positions/), so I will remain cautious with my entry. My bias is bearish on this pair, due to current dollar strength. My bias is subject to change however should news events not turn out to be positive for the dollar.