Buy on a level breakthrough of 0.7417 with 0.7484 target. Stop loss = 0.7367.
Reason for the trading strategy
The weak macroeconomic data on China's foreign trade, published last weekend, put pressure on the Aussie. In July, China's imports and exports declined by 8.1% and 8.3% in annual terms respectively. Meanwhile, the July's increase in consumer inflation in China signals a recovery in consumer activity in the country and creates preconditions for the stabilization of China's GDP in Q3 2015.
Reason for the trading strategy
The weak macroeconomic data on China's foreign trade, published last weekend, put pressure on the Aussie. In July, China's imports and exports declined by 8.1% and 8.3% in annual terms respectively. Meanwhile, the July's increase in consumer inflation in China signals a recovery in consumer activity in the country and creates preconditions for the stabilization of China's GDP in Q3 2015.
AUDUSD: adjustment from the level of 0.7417
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