FX.co ★ AUD/USD. It's time to grow!

Good day, dear traders! I present you, a trading idea for AUD/USD.

Perhaps, AUD/USD is currently the most oversold instrument of all the "majors". This is because it has passed more than 1400p since the end of 2018:

Recently though, it has been showing a slowdown, updating the January highs with a false breakout, and exposing the target in the footsteps of sellers - a platform near the level of 0.67800:

Today, against the background of news from China regarding the increase in the number of victims of the coronavirus, the AUD/USD pair sank during the European session. It compensated losses, indicating a bullish sentiment:

This is probably the only trading instrument sensitive to Chinese news, as it has reacted this way (compared to gold and oil).

We recommend you to look attentively at the longs, in order to break the level of 0.67800.

Good luck in trading and control your risks!