Fundamentals:- There was good data from Australia today even though the RBA (Royal Bank of Australia) did not raise interest rates the rhetoric was positive about wage growth and inflation
. Retail sales rose to 0.5% above the expected 0.3% giving a boost to AUD.
Technicals:- After some morning long positions traders have taken profits allowing the price to fall back towards the 7600 level which is also just below the 68% fibonacci retracement
level giving a good area of confluence to place the buy trade.
BUY at 7615
stop loss 7584
take profit 7705