USD/CNH drops to fresh low since late June 2018 following data. China’s Caixin Manufacturing PMI drops to 53.00 in December. MACD suggests further downside to channel support but RSI probes bears. USD/CNH drops to the lowest since June 2018 while ignoring China’s December month Caixin Manufacturing PMI. The quote currently stands on a slippery ground near 6.4695, down 0.51% intraday, during early Monday. China’s Caixin Manufacturing PMI slipped below 54.9 forecast and expected to 53.00 but marked a consecutive eighth print suggesting expansion in manufacturing activities of the world’s second-largest economy. Read: Chinese December 20 Caixin Manufacturing PMI 53.0 vs exp 54.7; prev 54.9 A downward sloping trend channel from early November portrays the USD/CNH traders’ bearish bias. Further, MACD is also teasing the sellers by the time of writing. As a result, USD/CNH bears are targeting the support line of the stated channel, at 6.4528, before eyeing the June 2018 low near 6.3760. However, oversold RSI conditions suggest corrective pullback towards regaining the 6.5000 round-figure. Though, a confluence of 21-day SMA and channel’s upper line near 6.5200 will be a tough nut to break for USD/CNH buyers. Overall, USD/CNH is in a bearish trajectory with momentum oscillators suggesting an intermediate pullback. USD/CNH daily chart Trend: Bearish 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 GBP/USD Price Analysis: Cable refreshes multi-month highs FX Street 1 year USD/CNH drops to fresh low since late June 2018 following data. China’s Caixin Manufacturing PMI drops to 53.00 in December. MACD suggests further downside to channel support but RSI probes bears. USD/CNH drops to the lowest since June 2018 while ignoring China’s December month Caixin Manufacturing PMI. The quote currently stands on a slippery ground near 6.4695, down 0.51% intraday, during early Monday. China’s Caixin Manufacturing PMI slipped below 54.9 forecast and expected to 53.00 but marked a consecutive eighth print suggesting expansion in manufacturing activities of the world’s second-largest economy. Read: Chinese December 20 Caixin Manufacturing PMI 53.0 vs exp… 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.
