USD/CNH: Only a break below 7.11/7.10 would affirm a deeper down move – SocGen USDCNY Technical Analysis Banks
USD/CNH uptrend faced stiff resistance near last September's peak of 7.27/7.30 resulting in a phase of pullback. It has so far defended its recent pivot low at 7.11/7.10. Daily MACD is anchored within positive territory denoting a lack of steady downward momentum. A short-term bounce is expected towards 7.22, the 61.8% retracement of the recent pullback.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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