Trading the Trend 4/1/23: long AUD/USD

China’s plan to end its two-year ban on coal imports from Australia has given the Australian dollar a boost with AUD/USD trading above its 200-day simple moving average (SMA) for the first time since April 2022.

We would like to go long AUD/USD at $0.6875 with a stop-loss at $0.6685 and an upside target at $0.7240.

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