Buy on a level breakthrough of 0.7190 with 0.7250 target. Stop loss = 0.7140.
Reason for the trading strategy
The Chinese authorities have set a target for the GDP growth for 2016 at the level of 6.5-7%. They plan to restrict the excess production capacity and will fight against the unprofitable "zombie companies". The restructuring of the Chinese economy seems inevitable to us. Its growth by more than 6.5% will still be significant, supporting the demand in the commodities markets.