EXNESS - Analytics

EXNESS

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The Aussie ignored the weak labor market data for China

Sell on a level breakthrough of 0.7020 with 0.6970 target. Stop loss = 0.7070.

Reason for the trading strategy

Today, the Aussie grows against the background of an adjusting decline of the US dollar in the international currency market and ignores the weak statistics on China's foreign trade. In October, China's imports fell by 18.8% (y/y), with a forecast of -16% (y/y), while exports fell by 6.9% (y/y), with a forecast of -3% (y/y). From a technical point of view, the breakthrough of the 0.7020 support level will serve as a signal for opening short positions in the AUD/USD pair.

AUDUSD, H4

AUDUSD



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