The AUDUSD continues the march lower

The AUDUSD has been hit lower again on trade concerns between the US and China. We expect this theme to continue as the likelihood grows that there will be no deal over the coming days. The chart has two scenarios marked up...continuation lower as sellers pile into the action and the groundwork the bulls need to lay to build the higher low and major shoulder for a move up to put the squeeze on the recent sellers....in that case we will reset for new long opportunities.