Buy on a level breakthrough of 0.7045 with 0.7100 target. Stop loss = 0.6995.
Reason for the trading strategy
The consumer price index in Australia in Q4 2015 increased by 0.4% (q/q), with a forecast of 0.3% (q/q). Rising inflationary pressure reduces the likelihood of a further reduction in Australia's key interest rate. From a technical point of view, the breakthrough of the level of $0.7045 will serve as a signal for opening long positions on the Aussie.
Reason for the trading strategy
The consumer price index in Australia in Q4 2015 increased by 0.4% (q/q), with a forecast of 0.3% (q/q). Rising inflationary pressure reduces the likelihood of a further reduction in Australia's key interest rate. From a technical point of view, the breakthrough of the level of $0.7045 will serve as a signal for opening long positions on the Aussie.
Australia's inflation data has supported the Aussie
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