Buy on rebound from 0.7080 level with 0.7185 target. Stop loss = 0.7030.
Reason for the trading strategy
Today, the RBA representative John Edwards said that the Australian Dollar rate remains too high. In his opinion, 0.65 US dollars per Australian dollar would be a more comfortable level. At the same time, he notes that the negative interest rates in other countries are supporting the high-yielding Aussie.