Chinese Trade Balance Rises 60.24B In Aug, Sell AUDUSD & NZDUSD On Rebound !

Forex China 2654

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.

The Chinese Trade Balance 60.24B, from 43.03B in the previous month, the indicator was expected to rise 48.020B in the last month.

Market Impact:

AUDUSD: A corrective pullback is in sight before the next fall, resistance comes at the 0.6980 levels ahead of the 0.7015 levels,(sell zone 0.690/0.7015),  support comes at the 0.6920, a clear break below this level will open 0.6800/0.6700 levels. Above 0.7015 faces a recovery risk towards the 0.7153 levels before the  next fall.

NZDUSD: A corrective pullback towards main resistance at the 0.6300 levels (sell zone) is likely before the next fall, below 0.6240 will open 0.6130 next, On the upside, above 0.6300 faces a recovery risk towards the 0.6475 levels before the next fall .