USD/CNH ignores better than forecast inflation data from China. 10-day SMA, six-week-old resistance line questions immediate upside. Sellers may remain cautious unless witnessing a break of 6.9300. USD/CNH takes rounds to 6.9725 amid Monday’s initial trading. In doing so, the pair struggles to justify upbeat inflation data from China. The reason could be traced from the fresh Sino-American tension after Trump administration levied fresh sanctions on Chinese apps and Hong Kong Leader. Read: Chinese CPI higher than expected, 2.7% vs 2.6% Technically, the pair aims for a 10-day SMA level of 6.9780 as nearby resistance before targeting a falling trend line from June 29, currently around 6.9968. Although weak RSI conditions defy calls of any further moves past-6.9968, bulls’ attempt will have an additional hurdle in the form of the 7.000 threshold to justify their strength. On the contrary, 6.9530 and the monthly bottom around 6.9320 may entertain short-term traders during the pair’s fresh downside. If bears manage to firm the grip below 6.9320, March month’s low near 6.9050 could well return to the charts. USD/CNH daily chart Trend: Pullback expected 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 Gold Price Analysis: XAU/USD recovers from session lows, $2,015 is key support FX Street 2 years USD/CNH ignores better than forecast inflation data from China. 10-day SMA, six-week-old resistance line questions immediate upside. Sellers may remain cautious unless witnessing a break of 6.9300. USD/CNH takes rounds to 6.9725 amid Monday’s initial trading. In doing so, the pair struggles to justify upbeat inflation data from China. The reason could be traced from the fresh Sino-American tension after Trump administration levied fresh sanctions on Chinese apps and Hong Kong Leader. Read: Chinese CPI higher than expected, 2.7% vs 2.6% Technically, the pair aims for a 10-day SMA level of 6.9780 as nearby resistance before targeting a falling trend line… 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.
