Buy on a level breakthrough of 0.7258 with 0.7326 target. Stop loss = 0.7200.
Reason for the trading strategy
Today's growth of the Aussie is not surprising. The whole of Asia is "green". The CSI 300 and the Nikkei225 have added about 4%. Investors are reacting to the monetary easing conducted by the People's Bank of China. In addition, the internal macroeconomic statistics has supported the Aussie. Australia's GDP increased by 0.6% (y/y) in Q4 2015, with a forecast of 0.5% (y/y), and the figure for Q3 2015 was revised upwards.