The AUD/USD rallies on China’s trade balance

China’s trade balance showed a rise on imports of 7% and exports of more than 15% year over year. This has caused the Australian Dollar to rally due to the fact that China is Australia’s main trading partner. On the Daily chart of the AUD/USD we can see how the 0.8700 area has been a good support for the pair, even though it has tried to break it to the downside recently. But the China news and weakness on the US Dollar has caused the pair to rally for today and it has come close to the 0.8800 level. A visit to the 0.8800 level could cause the AUD/USD to stall there and maybe try to bounce back down, but a breakout of that level could have the pair testing the next round number level of 0.8900.