Buy on a level breakthrough of 0.7167 with 0.7258 target. Stop loss = 0.7110.
Reason for the trading strategy
Despite the February decline in the business activity index of China's manufacturing and services sectors, the Australian dollar is growing today. It is supported by the Reserve Bank of Australia (RBA) and the People's Bank of China (PBOC). The RBA has kept the benchmark interest rate unchanged at 2% per annum, and the PBOC has decreased the required reserves ratio from 17.5% to 17% from March 1.