The Aussie showed considerable fluctuations yesterday.
The pair AUD/USD was able to reach a high of 0.7562 and low 0.7416 during yesterday's trading.
The pair actively reacted to data on consumer inflation and later on the Fed's decision not to rush with the rate increase, even in September.
The oil price drops five consecutive sessions, yesterday's decline was 1.66%, the iron ore suspended growth, the non-ferrous metals have stopped falling. The market feels increasing pressure on the alleged RBA rate cut next week.
Today, the export and import indices went worse than expected. The export index - 1.4% vs. the forecast of 2.9%. The import index - -1.0% vs. the forecast of 1.6%.
We consider that under the circumstances, the pair AUD/USD can’t go beyond the range of 0.7520 - 0.7550 and then reverse.
How to trade
We would buy put options if the pair falls below 0.7495.
Target price: 0.7495
Expiry time: 20: 00 GMT