USD/CNH rose to 100-hour MA, looks overbought as per the 14-day relative strength index (RSI). CNH is under pressure on fears of US-China trade war. The USD/CNH pair picked up a bid in Asia on fears of a full-fledged trade war between the US and China. The US is set to impose tariffs on $34 billion of Chinese imports on July 6 and Beijing has vowed to respond in kind but has made it clear that it will “absolutely not” fire the first shot in a trade war. So, it all depends on what Trump administration does on Friday. Until then, the CNY, AUD and other risky assets will likely remain under pressure. As of writing, the USD/CNH is trading at 6.6451, having tested the 100-hour moving average (MA) of 6.6548 earlier today. The CNH (offshore Yuan) is looking extremely overbought, according to 14-day RSI. USD/CNH Technical Levels Resistance: 6.6575 (50-hour MA), 6.6952 (July 2 high), 6.7329 (July 3 high). Support: 6.6332 (support as per the hourly chart), 6.6197 (200-hour MA), 6.6146 (10-day MA). 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 Bitcoin price analysis: BTC/USD bulls keep calm and carry on, as long as the price above $6,300 FX Street 4 years USD/CNH rose to 100-hour MA, looks overbought as per the 14-day relative strength index (RSI). CNH is under pressure on fears of US-China trade war. The USD/CNH pair picked up a bid in Asia on fears of a full-fledged trade war between the US and China. The US is set to impose tariffs on $34 billion of Chinese imports on July 6 and Beijing has vowed to respond in kind but has made it clear that it will "absolutely not" fire the first shot in a trade war. So, it all depends on what Trump administration does on Friday. Until… 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.
