USD/CNH rallied in the last three weeks on fears of a full-blown US-China trade war (buy the rumor). Â The biggest trade war in economic history began on Friday and USD/CNH is on the retreat, possibly due to profit taking or sell-the-fact trade. Â Currently, the USD/CNH pair is trading at 6.6283, having clocked a session high of 6.6658 earlier today. Â The offshore Yuan took a beating in the last three weeks and hit a seven-month high of 6.7329 on July 3 as markets priced-in a possibility of a full-blown trade war between the US and China. Â Sell-the-fact The CNH began recovering lost ground after trade war became a reality on Friday. Trump imposed tariffs on $34 billion worth of Chinese goods and Beijing immediately responded in kind, kick-starting the “biggest trade war in economic history”. Â The sell-the-fact trade is seen gathering steam as the 14-day relative strength index (RSI) is still flashing overbought conditions. Â USD/CNH Technical Outlook A close today below 6.6486 (Friday’s gravestone-doji’s low)looks like a done deal and would confirm a short-term bullish-to-bearish trend change. Â Support: 6.6130 (July 4 low), 6.5991 (38.2% Fib R of June 14 low – July 3 high), 6.5578 (50% Fib R of June 14 low – July 3 high). Â Resistance: 6.6658 (session high), 6.6861 (previous day’s high), 6.7329 (July 3 high). Â Â FX Street 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 Post By FX Street FXStreet News share Read Next Ex-BOE’s Blanchflower: UK PM May might not survive a week post Davis-resignation FX Street 4 years USD/CNH rallied in the last three weeks on fears of a full-blown US-China trade war (buy the rumor). Â The biggest trade war in economic history began on Friday and USD/CNH is on the retreat, possibly due to profit taking or sell-the-fact trade. Â Currently, the USD/CNH pair is trading at 6.6283, having clocked a session high of 6.6658 earlier today. Â The offshore Yuan took a beating in the last three weeks and hit a seven-month high of 6.7329 on July 3 as markets priced-in a possibility of a full-blown trade war between the US and China. Â Sell-the-fact… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.