EXNESS - Analytics

    EXNESS

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    AUDUSD: consolidation in the range of 0.6980-0.7060

    Sell on a level breakthrough of 0.6980 with 0.6900 target. Stop loss = 0.7030.

    Reason for the trading strategy

    In July, Australia's retail sales decreased by 0.1% (m/m), with a forecast of 0.4% (m/m). The growth rate for June was revised down from 0.7% (m/m) to 0.6% (m/m). In July, Australia's trade balance amounted to -2.46 billion Australian dollars. The statistics indicate a decline in consumer and external demand for Australian products and puts pressure on the Aussie.

     

    AUDUSD, H1

    AUDUSD


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