Don’t know how many are paying attention to the trade situation between Australia and China, quite a downside risk, looking to short and wait for AUD to test the trend line.
The Australian economy is headed lower with the housing market decline and shorting AUD is on the right side.
on the very short timeframe, there is a short opportunity if the AUD breaks below the 1 hour uptrend, and will at least test the daily uptrend.
it the AUD breaks below the daily trend, expect it to at least test the 0.7 level.
Brent Oil is in overbought territory, likely forming a triple top on the daily chart, and retrace to test the trend line. short here with a first target around 70 and second target at 60.
