China Industrial Production Rises 6.1% , AUDUSD Recovers , NZDUSD Hesitates !

forex China
forex China

Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.

Year-over-Year China Industrial Production rose to 6.1% , from  5.9% in the previous month , analysts had expected Industrial Production to rise to 6.0% last month.

This development may advance AUDUSD , at the moment the pair in recovery mode , a short term support has been printed at the 0.7600 levels, resistance comes at the 0.7818 levels , watch out for reversal !!!!

NZDUSD : The pair is under heavy pressure after RBNZ rate cut last night , at the moment hovering around the psycho level 0.7000 , Chinese data may bring consolidation around 0.7000 levels before the next leg down , the market is likely to wait for US data later on the day…