EXNESS - Analytics

EXNESS

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The Aussie is testing the December low

Sell on a level breakthrough of 0.7095 with 0.7015 target. Stop loss = 0.7150.

Reason for the trading strategy

In December, the decline in the Caixin China composite business activity index from 50.5 p. to 49.4 p. and the weakening of the Chinese yuan to 6.55 yuan per dollar (the lowest since April 2011) contributes to a strengthening of the US dollar and lower commodity assets.

 

AUDUSD, Daily



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