EXNESS - Analytics

EXNESS

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AUDUSD: under pressure against the background of lower inflation in China

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

Reason for the trading strategy

Australia's NAB business confidence index for October fell form 5 p. to 2 p., and China's CPI declined from 1.6% (y/y) to 1.3% (y/y). The statistics reflect a slowdown in the economic activity in Australia and China, putting pressure on the Aussie.

AUDUSD, H4

AUDUSD



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