USD/CNH’s daily chart shows buyer fatigue near 6.83. The pair risks revisiting the 17-month low of 6.7453. USD/CNH’s recovery rally from 17-month lows looks to have run out of steam. The long upper wicks attached to the previous four daily candles indicate buyer exhaustion above 6.83. In other words, these candles indicate the buyers lack the strength to extend the bounce from the Sept. 16 low of 6.7453 beyond 6.83. Coupled with a potential descending triangle breakdown on the hourly chart, that would open the doors for a re-test of the recent low of 6.7453. Alternatively, a convincing close above 6.83 would signal a continuation of the recovery rally. Daily chart Trend: Neutral Technical levels 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 AUD/USD Price Analysis: Bulls target upside structure FX Street 2 years USD/CNH's daily chart shows buyer fatigue near 6.83. The pair risks revisiting the 17-month low of 6.7453. USD/CNH's recovery rally from 17-month lows looks to have run out of steam. The long upper wicks attached to the previous four daily candles indicate buyer exhaustion above 6.83. In other words, these candles indicate the buyers lack the strength to extend the bounce from the Sept. 16 low of 6.7453 beyond 6.83. Coupled with a potential descending triangle breakdown on the hourly chart, that would open the doors for a re-test of the recent low of 6.7453. Alternatively, a convincing close above… Regulated 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.
