The AUDUSD was already heading lower following RBA concerns about the possible decline in global growth. Which in layman’s terms means if the USA screw China on trade tariffs, then we’re screwed! Put Trumps latest addition of new tariffs on China and we have two major fundamentals working in unison and that should keep the pressure firmly on the downside.
Current Technicals: Down
Hourly Resistance: 0.6985
AUDUSD HOURLY CHART – Current Price 0.6938
Current Fundamentals: Down
Central Bank Sentiment: Down
Geopolitical Impact: Down
Upcoming Potential Fundamental Drivers
Short positions below 0.6985 with my target at 0.6800.
Above 0.6985 should only see a small stop loss run above 0.7000 before moving lower again.
If trading the technical levels: Trendline Trader
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