AUD/USD on the cusp of a bullish breakout after strong Australian data

The AUD/USD is close to a major bullish breakout after strong economic data from Australia and China. The pair is trading at 0.7414, which is the highest it has been since September 1. The Australian economy is firing on all cylinders, as evidenced by the latest trade numbers. In a report today, the Australia’s Bureau of Statistics (ABS) said that the country’s exports increased by 5% in October to more than a$35.72 billion. In the same period, the country’s imports increased by 1% to more than a$28.26 billion. As a result, the overall trade surplus increased from a$5.6 billion to more than a$7.45 billion. The … (full story)

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