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.