Sell on a level breakthrough of 0.7000 with 0.6950 target. Stop loss = 0.7050.
Reason for the trading strategy
In January, the NAB business confidence index in Australia fell from 3 p. to 2 p. The data indicate a deteriorating economic situation in the country and put pressure on the Aussie. In addition, the current collapse of the Asian stock markets forces investors to sell the higher-yielding currencies.