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AUD/USD Trading - the possible Aussie strengthening - 22 Aug 2016

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AUD/USD Trading – the possible Aussie strengthening - 22 Aug 2016
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The new week began with a sharp strengthening of the yen.

Japanese yen showing strengthening after the speech of the Bank of Japan head Haruhiko Kuroda about the possible lowering rates.

During the Asian trading session, the Yen has added 60 points, the Australian dollar has lost 35 pips during the Asian session.

On the back of this fact, the Australian index S&P/ASX200 gaining 0.13%.

The basic scenario for the Aussie, as well as for the euro and the pound, we suggest another approach to the range of 0.7640-0.7740 as a response to the general weakening of the US dollar.

The iron ore price is held tightly near $60 per ton. However, the decline in non-ferrous metals is alarming (copper -0.65%, aluminum -0.51%, tin -0.15%).

How to trade binary

We would buy Call options if the pair AUD/USD rises above 0.7625. We would buy Put options if the pair falls below 0.7570.

Expiry time: 20:00 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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