On the hourly chart the pair has broken the uptrend drawn from the April 3 low at 0.9373
![](https://assets.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBb0J6IiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--ba12fe58138b9392b34a2faa2743bd52d9c18d6b/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--d4026b52d9aa7a676b3d70dbe31c85d930184392/kga08anp_400x400.jpg)
Pepperstone
On the hourly chart the pair has broken the uptrend drawn from the April 3 low at 0.9373. The pair is also right on the 38.2% retracement of the move from 0.9205 to 0.9461 at 0.9363 and a failure to re-claim this level could suggest short positions. At midday we get a raft of Chinese economic data, with retail sales (expected to grow 12.1% yoy), fixed asset investment (+18%), industrial production (+9%) and Q1 GDP (+7.3%). The economist range for GDP is 6.8% to 7.7%, which seems fairly wide for a number that is usually so accurately predicted. Comments from a Chinese state researcher yesterday suggest the print should be in-line with consensus.
![Chris Weston](https://assets.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBb0J6IiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--ba12fe58138b9392b34a2faa2743bd52d9c18d6b/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--d4026b52d9aa7a676b3d70dbe31c85d930184392/kga08anp_400x400.jpg)
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
![Chris Weston](https://assets.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBb0J6IiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--ba12fe58138b9392b34a2faa2743bd52d9c18d6b/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--d4026b52d9aa7a676b3d70dbe31c85d930184392/kga08anp_400x400.jpg)
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...