EXNESS - Analytics

    EXNESS

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    NZDUSD: under pressure after the publication of data on China's foreign trade

    Buy on a level breakthrough of 0.6738 with 0.6800 target. Stop loss = 0.6688.

    Reason for the trading strategy

    China's foreign trade statistics for September was mixed and put some pressure on the commodity currencies. In the reporting period, imports decreased by 17.7% (y/y), and exports decreased by 1.1% (y/y). As a result, the trade balance, which is a part of China's GDP rose from 60.24 billion to 60.34 billion yuan. From a technical point of view, it is better to consider new purchases of the Kiwi at the level breakthrough of $0.6738.    


    NZDUSD, H4

    NZDUSD


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