Sell on a level breakthrough of 0.7358 with 0.7298 target. Stop loss = 0.7408.
Reason for the trading strategy
The economic statistics for China, published today, did not add any optimism for the commodity asset buyers. In May, a 6% (y/y) growth in industrial production was recorded in China, with a forecast of 6.1% (y/y), investments in fixed assets grew by 9.6% (y/y), with a forecast of 10.5% (y/y), and in retail sales a 10% (y/y) growth was recorded, with a forecast of 10.1% (y/y).