Buy on a level breakthrough of 0.7567 with 0.7680 target. Stop loss = 0.7500.
Reason for the trading strategy
Yesterday, Li Keqiang, the Premier of the State Council of the PRC, said that the Chinese authorities intend to reduce taxes in order to stimulate the economic growth and to help the Chinese economy better survive the shift from industrial production towards consumption and the services sector. Tax cuts may amount to 500 billion yuan ($76.8 billion) in 2016. Fiscal stimulation of the Chinese economy, which is the largest consumer of energy, will support the commodity currencies.