Good day traders!

Took an Aussie dollar trade with a buy order at 0.99 and limit at 0.997. Trade closed with a 70 pips gain as the limit was hit.

aussie dollar trade

aussie dollar trade

I took the trade based on fundamentals and technical analysis. On the fundamental side, China released some positive figures yesterday which went good for the New Zealand dollar and Aussie dollar. So based on that, I thought that buying the Aussie Dollar on dips might be a good idea and it did turned out my way. The spike up happened after the RBA raised interest rates by 25 points to 4.75. This was something unexpected and the market’s reaction was fast and swift.

To your success traders!

~ Ardy

Singapore Forex Traders’ Blog