Buy on a level breakthrough of 0.7700 with 0.7750 target. Stop loss = 0.7650.
Reason for the trading strategy
In March, the official business activity index in China's manufacturing and non-manufacturing sectors rose to 50.2 p. and 53.8 p. respectively. The statistics indicate an improvement in the economic situation in the world's second largest economy, but do not alter the scenario of its growth slowdown to 6.5% this year. To combat the crises, People's Bank of China may agree to the further easing of monetary policy, which will support the demand for commodities and commodity assets.