{"id":76696,"date":"2015-08-11T11:01:05","date_gmt":"2015-08-11T15:01:05","guid":{"rendered":"http:\/\/countingpips.com\/?p=76696"},"modified":"2015-08-11T11:01:05","modified_gmt":"2015-08-11T15:01:05","slug":"daily-forex-analysis-audusd-hit-by-surprise-yuan-devaluation","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/08\/daily-forex-analysis-audusd-hit-by-surprise-yuan-devaluation\/","title":{"rendered":"Daily Forex Analysis: AUD\/USD Hit By Surprise Yuan Devaluation"},"content":{"rendered":"
August 11, 2015<\/div>
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GROWTHACES.COM<\/a> Forex Trading Strategies<\/strong><\/p>\n

USD\/CAD: <\/strong>sell at 1.3080, target 1.2920, stop-loss 1.3140, risk factor ***<\/p>\n

AUD\/USD: <\/strong>buy at 0.7285, target 0.7420, stop-loss 0.7225, risk factor ***<\/p>\n

(more strategies available for VIP subscribers only)<\/p>\n

AUD\/USD Hit By Surprise Yuan Devaluation<\/strong><\/p>\n

(buy at 0.7285)<\/p>

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  • The AUD fell sharply after China’s central bank allowed its yuan to fall to levels last seen in 2012 and said it was aiming for a depreciation of 2%. <\/strong><\/li>\n
  • Not helping the AUD was a survey showing local business confidence and conditions weakening in July<\/strong>. The index of business confidence slipped 4 points to +4 in July. Its measure of business conditions also dipped 4 points to +6. The survey’s index of sales eased back to +11, from a very strong +19 in June, while profitability dropped 3 points to +7. Forward orders fell 3 points to +2, while the index of employment eased back into negative territory at -1. The pullback in index would be sobering news for the Reserve Bank of Australia which had recently made much of the pick-up in business confidence as one argument against the need for further cuts in interest rates.<\/li>\n
  • We have cancelled our sell order on the AUD\/USD. In our opinion the AUD\/USD may recover slightly in the coming days, as the reaction to the decision of the Chinese central bank should not last long. Moreover, we may see a bit weaker USD today and tomorrow, but US retail sales data may change the market picture again on Thursday. We have placed a buy AUD\/USD order at 0.7285 but this strategy is risky.<\/strong><\/li>\n<\/ul>\n

    \"AUD\/USD<\/p>\n

    Significant technical analysis’ levels:<\/p>\n

    Resistance: 0.7440 (session high Aug 11), 0.7450 (high Jul 21), 0.7489 (high Jul 15)<\/p>\n

    Support: 0.7305 (session low Aug 11), 0.7264 (low Aug 4), 0.7260 (low Aug 3)<\/p>\n<\/div>\n<\/div>\n<\/div>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    GROWTHACES.COM Forex Trading Strategies USD\/CAD: sell at 1.3080, target 1.2920, stop-loss 1.3140, risk factor *** AUD\/USD: buy at 0.7285, target 0.7420, stop-loss 0.7225, risk factor *** (more strategies available for VIP subscribers only) AUD\/USD Hit By Surprise Yuan Devaluation (buy at 0.7285) The AUD fell sharply after China’s central bank allowed its yuan to fall […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-76696","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/76696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=76696"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/76696\/revisions"}],"predecessor-version":[{"id":76697,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/76696\/revisions\/76697"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=76696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=76696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=76696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}