Buy on a level breakthrough of 0.7222 with 0.7280 target. Stop loss = 0.7172.
Reason for the trading strategy
According to the Conference Board, the index of leading economic indicators of China increased by 0.6% (m/m) in October. The Chinese CSI300 index reacted to this statistics by declining by around 0.5%. It should be noted that since the August lows it grew by 23.5%. Currently, investors show sympathetic understanding the slowdown in the Chinese economy and rapid increase in the US key interest rates, they take risks, but buy the high-yielding Aussie.