NZDUSD: consolidation after the publication of macroeconomic statistics for China

March 11, 2015

Sell on a level breakthrough of 0.7227 with 0.7175 target. Stop loss = 0.7277.

Reason for the trading strategy
In January, the volume of industrial production in China decreased from 7.9% (y/y) to 6.8% (y/y), investment in fixed assets decreased from 15.7% (y/y) to 13.9% (y/y), and retail sales decreased from 11.9% (y/y) to 10.7% (y/y). The data reflects a decline in the business activity in the largest Asian economy, which could put pressure on commodity assets.

NZDUSD, H4

Publication source
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