Home Offshore Yuan rises to highest level since January 23

Offshore Yuan rises to highest level since January 23

Updated: 29 May. 2018 | 03:31

Offshore Yuan (USD/CNH) jumps above 6.4 for the first time since January 23.
USD/CNY has run into a long-term descending trendline resistance.

The offshore Yuan or USD/CNY rose to 6.4081 on Tuesday – the highest level since June 23.

As of writing, the currency pair is trading at 6.4060 and is looking to cross the long-term falling trendline (drawn from June 2017 high and December 2017 high) in a convincing manner.

USD/CNH weekly chart

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.