EXNESS - Analytics

EXNESS

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NZDUSD: growth after the publication of the macroeconomic statistics for China

Buy on a level breakthrough of 0.6645 with 0.6705 target. Stop loss = 0.6595.

Reason for the trading strategy

The Chinese business activity index data for November was mixed (the manufacturing sector contracts as the service sector expands), but it supported the commodity currencies. Perhaps yesterday's decision made by the IMF to include the yuan in the basket of reserve currencies put some pressure on the US dollar. In the medium term, the demand for Chinese securities will increase, and that for the US ones will decrease.

NZDUSD, H4

NZDUSD



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