Strong bearish pressure can be seen on the higher time frames; the daily time frame is pushing it towards the downside as well because of a push > exhaustion scenario & a bearish engulfing candlestick formation is attempting to be made; 4-hour price action has crossed MA 20/50; and a nice bounce on the 1-hour time frame. The AUD numbers this week came out negative, meaning the hedge funds are still heavily selling it off, while CAD is being bought.