China’s Economic Structure Improves In 2014
China made progress in improving its economic structure in 2014, though its annual economic growth rate came in at a 24-year low, the country’s statistics authority said Tuesday.
China made progress in improving its economic structure in 2014, though its annual economic growth rate came in at a 24-year low, the country’s statistics authority said Tuesday.
EURUSD remains in downtrend from 1.2569, the rise from 1.1459 is likely consolidation of the downtrend.
The AUDUSD pair fell slightly during the session on Monday, but as you can see really didn’t go anywhere.
The bank’s biannual Global Economic Prospects report estimates China’s GDP growth to slow to 7.1 percent this year from 7.4 percent in 2014, with the downtrend set to continue till 2017 with 6.9 percent growth.
GBPUSD remains in downtrend from 1.5785, the rise from 1.5034 is likely consolidation of the downtrend.
EURUSD’s downward movement from 1.2569 extended to as low as 1.1744.
The AUDUSD pair rose during the course of the session on Wednesday, but gave back a little bit of the gains as you can see.
AUDUSD broke above 0.8214 resistance, indicating that consolidation of the downtrend from 0.8910 (Oct 29, 2014 high) is underway.
GBPUSD is showing signs of a pullback, as price previously found support near the 1.5000 major psychological level. Using the Fibonacci retracement tool on the latest swing high and low on the 4-hour time frame indicates that the 61.8% Fibonacci level lines up with a former support zone.
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