Trading Tips:The Australian dollar rose against its U.S. counterpart on Wednesday, boosted by upbeat Chinese second quarter growth data and as Greece’s new bailout deal continued to support market sentiment. AUD/USD hit 0.7489 during late Asian trade, the pair’s highest since July 10; the pair subsequently consolidated at 0.7468, gaining 0.20%. Official data earlier showed that China gross domestic product rose by 7.0% in the second quarter, beating expectations for a growth rate of 6.9%.In Australia, the Westpac Banking Corporation reported on Wednesday that its consumer sentiment index fell 3.2% in July after a decline of 6.9% the previous month. Meanwhile, sentiment remained supported after euro zone leaders reached a unanimous agreement on a third bailout deal for Greece on Monday, following marathon weekend-long talks.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5640 TARGET 1.5660 1.5690 SL 1.5610
SELL GBP/USD BELOW 1.5605 TARGET 1.5585 1.5555 SL 1.5635
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