Tag Archives: USDCNY

USD/CNH Price Analysis: Pierces 6.7600 key hurdle on China inflation miss

USD/CNH snaps two-day downtrend after softer-than-expected China CPI, PPI for July. Bulls pierced weekly resistance line, 200-HMA after data, sustained break of 6.7600 awaited for further upside. 61.8% Fibonacci retracement level, ascending trend line from July 31 restrict immediate downside. USD/CNH remains firmer around the daily top after China flashed downbeat inflation numbers for July.… Read More »

USD/CNH Price Analysis: Keeps bounce off 21-DMA below 6.7700

USD/CNH retreats from intraday as bulls take a breather after snapping three-day downtrend on Friday. MACD, RSI suggests continuation of slower grind to the north. One-month-old ascending trend line adds to the downside filters. Bulls need successful break of 78.6% Fibonacci retracement level to keep reins. USD/CNH struggles to extend the previous day’s gains as… Read More »