EXNESS - Analytics

    EXNESS

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    AUDUSD: consolidation after the publication of China's macroeconomic statistics for October

    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.

    AUDUSD, H4

    AUDUSD


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