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AUD/USD Trading - Australian Home Loans - 10 Nov 2016

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AUD/USD chart 10 Nov 2016
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Yesterday, the Aussie showed an adequate response to the victory of Trump.

Since the beginning of the announcement of the preliminary results the Australian dollar has been declining against the growth of other currencies, and even against the weakening of the yen and the yuan. The Aussie fell by 127 points. And it happened despite the fact that the price of iron ore increased by 3.44% to $68.34.

Later the pair AUD/USD was back to the usual range.

The oil price remains under pressure amid investor speculation, if Donald Trump is the real Republican that is, expressing the interests of the oil companies. The Bank of New Zealand cut rates from 2.0% to 1.75%. Since the reduction was predictable, the effect was minimal.

Yesterday, In Australia the consumer sentiment index dropped by 1.1%, and MI inflation expectations decreased from 3.7% to 3.2%. The investing in real estate increased by 4.6% and housing loans increased by 1.6% vs. the forecast of -2.0% reduction. Yesterday, the Chinese inflation indices showed growth.

How to trade binary

On 1H chart, the pair AUD/USD has the key levels: 0.7705, 0.7677, 0.7626. The downward movement is possible after the breakdown of 0.7626, in this case, the target - 0.7580. The short-term upward movement is possible in the range of 0.7677 - 0.7705, the break of the upper limit will have to form upward structure.

We would buy Call options if the AUD/USD rises above 0.7680. We would buy Put options if the pair falls below 0.7626.

Expiry time: 21:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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