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.