Sell on a level breakthrough of 0.7215 with 0.7150 target. Stop loss = 0.7265.
Reason for the trading strategy
The recently published economic statistics for Australia is mixed and does not allow the AUDUSD pair form a directional move. It has become known today that Australia's trade deficit grew from 1.97 billion to 1.58 billion Australian dollars in April. However, in the same period, the retail sales growth was low and amounted to 0.2% (m/m), with a forecast of 0.3% (m/m). Overall, we maintain our neutral view on the Aussie, preventing its decline below the level of 0.7215 USD dollars against the background of the strengthening world's reserve currency.