AUD Cot extreme positioning unwindAUD/USDOANDA:AUDUSDTheContrarianBullAUD/USD positioning is extremely crowded long (~85% long COT). Price initially kept rising, but now rallies into ~0.718 are repeatedly failing. Momentum and structure are weakening: lower highs weaker rebounds MAs rolling over price spending more time below resistance. So the thesis is: Crowded longs are no longer being rewarded, which may be the early stage of a positioning unwind. BUT: the unwind is not fully confirmed yet. Confirmation comes if: price breaks/accepts below ~0.709 rebounds stay weak ideally COT eventually rolls over too. 📊 The 0.718 zone is now VERY clearly defined You can now see multiple failed interactions there: reclaim attempts rejected lower highs beneath it MA cluster rolling over underneath resistance Key near-term level: ~0.712–0.713 If price: keeps leaning on it rebounds weakly then breaks lower …that starts opening: 0.709 then potentially acceleration. Targets: 0.695, 0.685, 0.67