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Short

AUDUSD - Short Set-up

FX_IDC:AUDUSD   AUSTRALIAN DOLLAR / US DOLLAR
Last week closed with price forming a hanging man in the high confluence area of the medium term trend line and key 0.7100 support turned resistance. This also coincides with the daily 0.618 Fibonacci retracement.

Weaker than expected data from china over the weekend may once again translate over in to the already bearish commodity market which in turn will continue to bring the Aussie down with it.

Risks here come from US$ uncertainty as we draw in on the Feds Rate decision this week.
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