USD/CNH struggles around near-term descending trend-line, 23.6% Fibonacci retracement. A two-week-old symmetrical triangle limits the pair’s moves. USD/CNH trades near short-term key resistances as it takes the rounds to 7.07 during Wednesday’s Asian session. With the two-week-old descending trend-line and 23.6% Fibonacci retracement of late-July to early-August rise limiting the pair’s immediate upside around 7.0757/40, prices are likely to witness a pullback towards multiple supports around 7.0570 numbers. However, 38.2% Fibonacci retracement level of 7.0360 and 7.0240 might question sellers afterward, if not then 7.0037/15 area including triangle support and 50% Fibonacci retracement will lure bears. If at all buyers manage to conquer 7.040/57 resistance-confluence, last week’s high surrounding 7.1127 and monthly top near 7.14 will be bulls’ favorites. USD/CNH 4-hour 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 Japan to upgrade its estimate of North Korea’s nuclear weapons capability – Yomiuri FX Street 4 years USD/CNH struggles around near-term descending trend-line, 23.6% Fibonacci retracement. A two-week-old symmetrical triangle limits the pair's moves. USD/CNH trades near short-term key resistances as it takes the rounds to 7.07 during Wednesday's Asian session. With the two-week-old descending trend-line and 23.6% Fibonacci retracement of late-July to early-August rise limiting the pair's immediate upside around 7.0757/40, prices are likely to witness a pullback towards multiple supports around 7.0570 numbers. However, 38.2% Fibonacci retracement level of 7.0360 and 7.0240 might question sellers afterward, if not then 7.0037/15 area including triangle support and 50% Fibonacci retracement will lure bears. If at all buyers… 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.
