Buy on a level breakthrough of 0.7384 with 0.7484 target. Stop loss = 0.7334.
Reason for the trading strategy
Today, the Aussie was supported by the macroeconomic statistics and by the RBA, which kept its benchmark interest rate unchanged at 2%. In June, retail sales in Australia rose by 0.7% (m/m), while the May growth was revised upwards from 0.3% (m/m) to 0.4% (m/m). Australia's trade deficit for May has been adjusted downwards - from 2.75 billion to 2.68 billion Australian dollars. To read more on our analysis please visit http://ow.ly/Qvx94
Reason for the trading strategy
Today, the Aussie was supported by the macroeconomic statistics and by the RBA, which kept its benchmark interest rate unchanged at 2%. In June, retail sales in Australia rose by 0.7% (m/m), while the May growth was revised upwards from 0.3% (m/m) to 0.4% (m/m). Australia's trade deficit for May has been adjusted downwards - from 2.75 billion to 2.68 billion Australian dollars. To read more on our analysis please visit http://ow.ly/Qvx94
The RBA has kept the key interest rate unchanged