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AUD/USD - waiting for the Chinese sell-off

FX:AUDUSD   Australian Dollar/U.S. Dollar
167 2 1
The AUDUSD             is almost setting up for a new short trend wave. It has broken its major support but the sell-off hasn't happened yet.

The key factor for the AUDUSD             is the Chinese market. These days, the Shanghai Composite             leads the development - not only from a safe-haven point of view, but also because of the connection of the Australian and the Chinese economy.

The second factor is Crude Oil             . Although Crude has also broken its major level at $30.00, it's still waiting for the follow through.

Now it's waiting time for the AUDUSD             . Only if China and Crude pick up momentum again, the AUDUSD             will move.
Comment: The Shanghai Composite is 3% higher today. Makes it very unlikely for a short AUD/USD move going into the European open. Short positions are squeezed.
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