(Corrects typo line 4 )

• FX option trade flows can offer clues about FX sentiment and direction

• There's been increased interest to sell higher strike AUD/USD options over recent sessions

• Dealers say its most likely unwinding of bullish structures that have already reaped rewards

• This profit taking doesn't mean that AUD/USD can't eventually trade higher, maybe just not right now

• A recent report from DB research expects USD decline to deepen and AUD/USD to reach 0.7600 this year

• Related - Complacency to caution: FX options edge up into cen-bank heavy week
AUD=D3


(Richard Pace is a Reuters market analyst. The views expressed are his own)