The Australian exports fell 9% mom in January:
Australia: January, pre export of goods -$3.047 million (-9% m/m) to $32.126 million;
Goods Import -$2.626 million (-10% m/m) to $23.372 million;
Trade surplus $8.754 mln;
Export +13% YoY, import -7% YoY.
Our Analysis:
Provided that the currency pair is traded above 0.7940, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7955
- Take Profit 1: 0.8000
- Take Profit 2: 0.8020
Alternative scenario:
In case of breakdown of the level 0.7940, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7940
- Take Profit 1: 0.7920
- Take Profit 2: 0.7890
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