The Aussie continues to strengthen due to the general weakening of the US dollar.
The Australian dollar could benefit from the positive Chinese data. In China, consumer price index fell from 2.3% to 2.05% in May, but producer price index improved from -3.4% to -2.8%.
The Aussie added around 100 points after the central bank decision to keep the rate unchanged at 2.25%. After yesterday's losses, the price of iron ore recovering thanks to the Chinese data on inflation today.
In the current situation, the Australian dollar still remains the potential for growth to 0.7565.
How to trade
We expect the continuation of upward movement after the breakdown of 0.7480, in this case, the target - 0.7512. We would buy call options if the pair rises above 0.7480.
Target price: 0.7480
Expiry time: 20:00 GMT