AUDUSD - Short Below Key Resistance Level

AUD/USD has been surging in the past few trading sessions on the back of USD weakness across the board as well as optimism surrounding US and China trade negotiations with both parties agreeing to sign a phase 1 deal. Therefore even through over the medium to long term we anticipate the currency pair moving lower as the RBA is expected the introduce additional easing in the form of rate cuts next year if AUDUSD consolidates above key resistance at 0.703 we would have to change our view to neutral.