Buy on a level breakthrough of 0.7260 with 0.7300 target. Stop loss = 0.7220.
Reason for the trading strategy
The National Development and Reform Commission (NDRC) of China approved the project of railway lines construction in Zhejiang, an eastern coastal province of China; the volume of investments is estimated at nearly $4.5 billion. China is the biggest consumer of copper in the world (and Australia is its biggest exporter), and this project will contribute to a growth of demand for non-ferrous metal. Today, copper futures rose by 0.22% to $2.08. per pound.