Chinese GDP 6.8% vs. 6.8% Forecast, Sell AUDUSD & NZDUSD on Rebound!

forex China
forex China

Chinese Gross Domestic Product (GDP) fell 1.6%, from 1.8% in the previous month, analysts had expected Chinese GDP to fall to 1.7% in the last month…

Year-Over-Year Chinese GDP fell 6.8%, from 6.9% in the previous month meeting forecast of 6.8% in the last month…

Market Impact:

This development supports AUD and NZD against the U.S dollar, so selling both pairs on a rebound is recommended…

AUDUSD: Resistance comes at the 0.6950 levels, stability below this level could mean a return to the 0.6825 levels, above 0.6950 faces a recovery risk towards the 0.7047 levels.

NZDUSD: Resistance comes at the 0.6507 levels, stability below this level could mean a return to the 0.6400 levels, above 0.6507 faces a recovery risk towards the 0.6589 levels…

 

MARKET DATA

UPCOMING ECONOMIC EVENTS