Pair is supported above 6.4900 levels. Key support falls at 6.4910 levels and daily close below will take the parity towards key support are at 6.4736 marks. On the other side, reversal from 6.49 levels will turn the bia…
Key support falls at 6.4910 levels and daily close below will take the parity towards key support are at 6.4736 marks.
On the other side, reversal from 6.49 levels will turn the bias bullish again and take the parity around key resistance at 6.5134/6.56 levels thereafter.
Over the weekend, china released number of economic data.
China’s industrial output of all industries rose 5.4% in the January-February period from a year earlier, slowing down from 5.9% growth seen in December.
In addition, China’s retail sales rose less than expected by 10.2% in the January-February period.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
