USD/CNH’s daily chart shows symmetrical triangle breakout. The breakout is backed by bullish readings on key indicators. USD/CNH gained ground on Friday as the escalating US-China tensions over Hong Kong weighed over the offshore Yuan. The pair closed at 7.1452, confirming an upside break of the daily chart symmetrical triangle represented by trendlines connecting May 4 and May 18 highs and May 8 and May 20 lows. The triangle breakout has bolstered the bullish view put forward by the falling channel breakout confirmed on May 1 and suggests scope for a test of the 2019 high of 7.1952. The breakout is backed by an above-50 or bullish print on the 14-day relative strength index (RSI). On the lower side, an acceptance under 7.10 (last week’s low + 50-day simple moving average) would shift risk in favor of a drop to the psychological support of 7.00. At press time, the pair is trading largely unchanged on the day at 7.1522. Daily chart Trend: Bullish 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 USD/JPY: Off intraday top, still above 107.00, as trade sentiment dwindles FX Street 3 years USD/CNH's daily chart shows symmetrical triangle breakout. The breakout is backed by bullish readings on key indicators. USD/CNH gained ground on Friday as the escalating US-China tensions over Hong Kong weighed over the offshore Yuan. The pair closed at 7.1452, confirming an upside break of the daily chart symmetrical triangle represented by trendlines connecting May 4 and May 18 highs and May 8 and May 20 lows. The triangle breakout has bolstered the bullish view put forward by the falling channel breakout confirmed on May 1 and suggests scope for a test of the 2019 high of 7.1952. The breakout… 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.
