Australia’s trade balance has recorded its third consecutive monthly surplus of $28 million, despite a fall in exports during April. The AUD/USD is hovering near 20 month lows. The European central bank isn’t expected to deliver another rate cut today, but global investors will be focused on Mario Draghi’s words on what the ECB is doing to provide markets with liquidity.
Trade Idea
EURUSD
Strong support lies at 1.3065 level. A 4H break and close below that level could lead price to 1.2905 alternative a break above 1.3125 targets 1.3240.
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