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AUD/USD Put Signal 29 Oct 2015

Signal details
Entry Price: 
0.7085
Close Price: 
0.7079
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 2 ratings

The AUD/USD has fallen further after yesterday's fiasco, unmoved by some important Chinese news that have hit the wires. The Chinese government has decided to scrap the one child per family policy, which should boost consumption in the country in the long run.

The immediate reaction was to buy the AUD/USD but it was short lived. Unlike the NZD which rallied faster due to the country being the biggest exporter of milk to China, the Australian commodities driven exports will take many years to filter through into the real economy.

We are buyers of daily puts on the AUD/USD rate if prices reach 0.7085

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.