AUD gain strength across the board post better than expected CHINA CPI news release on 13 Oct 2016. As a bull on this pair, I’d like to look for buy setup near support. A perfect opportunity for carry trades setup.
“The Aussie gained smartly in Asia on Friday as prices data in China showed a surprise jump, signalling potential demand pressures for key commodities in closely-watched figures covering consumers and producers.China reported CPI for September with a gain of 0.7% month-on-month, well above the 0.3% pace seen and led by food prices, and a 1.9% increase year-on-year, faster than the 1.6% rise expected. As well PPI data rose 0.1% year-on-year, compared to a decline of 0.3% expected for the first positive growth since February 2012. ”
Source: – http://www.investing.com/currencies/aud-usd-news