Shorted AUD/USD (late post)

Good entry on short with respect to existing trend line, this is late post due to busy schedule.

AUD an commodity based currency is largely affected and dependent on CHINA's economy growth. With trade-war suppressing CHINA's export, raw material is part of the supply chain to be affected.

I am expecting pair to retrace at 0.7350 for a another round of short entry if I see potential opportunity.

Commentaire:

RBA statement quote:

1. "Although inflation is likely to be a bit lower in the near term, this is expected to be temporary."

2. " Given thegradual nature of the improvement, however, the Board does not see a strong case to adjust the cash rate in the near term."