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

Days since Trend started: 20 Days

Number of pips in Trend: 308 pips

AUDUSD HOURLY CHART – Current Price 0.6938

Current Fundamentals: Down

Upcoming Potential Fundamental Drivers

Trade Execution

Our Preference

Short positions below 0.6985 with my target at 0.6800.

Alternative Scenario

Above 0.6985 should only see a small stop loss run above 0.7000 before moving lower again.

Execution Software

If trading the technical levels: Trendline Trader

If trading live: T-Rex Live Trader or Guerrilla Trader

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