Buy on a level breakthrough of 0.7075 with 0.7125 target. Stop loss = 0.7025.
Reason for the trading strategy
The October statistics on China was mixed. In the reporting period, retail sales in the country grew by 11% (y/y), with a forecast of 10.9% (y/y); the volume of industrial production grew by 5.6% (y/y), with a forecast of 5.8% (y/y); and the volume of investments in fixed assets grew by 10.2% (y/y), as expected. At the level breakthrough of $0.7075 opening long positions in the Aussie should be considered.