EXNESS - Analytics

    EXNESS

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    AUDUSD: consolidation after the publication of data on China's foreign trade

    Buy on a level breakthrough of 0.7491 with 0.7595 target. Stop loss = 0.7441.

    Reason for the trading strategy

    In June, the annual rate of decline of Chinese imports fell from -18.1% to -6.1%, while exports rose from -2.8% (y/y) to 2.8% (y/y). Statistics indicate a resumption of economic activity in the world's second economy and supports the commodity currencies. From a technical point of view, buying the Aussie should be considered above the 0.7491 level.

     

    AUDUSD, H4

    AUDUSD


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