quantguy
Short

China fears wreck commodity currencies

FX:AUDUSD   Australian Dollar / U.S. Dollar
As we all know by now, the Chinese markets were only open 14 minutes before a crushing 7% loss tripped safeguards. Recently, news came out to the effect that we can expect a further devaluation of their currency. This will hurt commodity currencies like AUD. In fact, its slipping as I'm writing this.

My short position is bolstered by massive pressure from above via the Ichimoku Cloud , and the difference between the MACD and signal is rapidly closing suggesting a bearish turnaround. The RSI gives us a green light.
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