Buy on rebound from 0.7045 level with 0.7140 target. Stop loss = 0.6995.
Reason for the trading strategy
The business activity index in Australia's and China's business sectors fell to 51.5 p. and 49.4 p. respectively in January. The data indicate a continuing decline in economic activity in the regions and putt pressure on the Aussie. Meanwhile, the liquidity injections of Chinese and Japanese regulators in February will support the risky assets.