Why? AUDUSD has been in correction since 07 Sep. The long term down trend must be assumed. The pair hit major weekly pivot point level and it has been overbought.
How Enter short position after Aussie pulls back towards 61.8% of the last leg down.
Profit taking Exit half position @ 0.7050 Move to BE at 0.7050, the first reasonable support - former resistance ( screenshot)
Option hedge Enter CALL option @ the entry to cover 40% of the stop.