EXNESS - Analytics

    EXNESS

    628.50 4.00/10
    69% of positive reviews
    Real

    The Chinese liquidity supports the demand for commodity currencies

    Buy on a level breakthrough of 0.7680 with 0.7750 target. Stop loss = 0.7630.

    Reason for the trading strategy

    Today the PBOC has provided the country's financial system with 110 billion yuan (16.93 billion dollars) at an interest rate of 2.25% as part of the 7-day reverse repo transactions. Against this background, the CSI 300 index grew by more than 1.5%. In the short term, the strengthening of the commodity currencies including the Aussie can also be expected. 

    AUDUSD, H1


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