Buy on a level breakthrough of 0.7802 with 0.7900 target. Stop loss = 0.7750.
Reason for the trading strategy
An improvement of the situation in the energy market (rise in oil prices and iron ore) and a positive spread between the key interest rates in Australia and the US support the Aussie. According to the Reserve Bank of Australia, the current settings of monetary policy are appropriate, however the high Australian dollar may complicate the re-balancing of the economy.
Reason for the trading strategy
An improvement of the situation in the energy market (rise in oil prices and iron ore) and a positive spread between the key interest rates in Australia and the US support the Aussie. According to the Reserve Bank of Australia, the current settings of monetary policy are appropriate, however the high Australian dollar may complicate the re-balancing of the economy.
AUDUSD: growth after publication of the RBA minutes
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