Sell on a level breakthrough of 0.6924 with 0.6850 target. Stop loss = 0.6974.
Reason for the trading strategy
On January 8, major Chinese shareholders who own shares in more than 5% of the company's capital, received the right to sell their shares, provided that their value does not amount to more than 1% of the company's capital. Today, they took advantage of this right, which resulted in the CSI300 index decreasing by 3.5%. Investors are concerned about a slowdown in the Chinese economy and the national companies' profits. The inflation statistics for China, published on January 9, turned out to be worse than expected. Currently, the Aussie's attempts to adjust upwards look unstable. In the short term, there is a high probability of it reducing below its 2015 low, the mark of $0.69.
