Yuan’s offshore exchange rate (CNH) hot four-month low soon before press time. USD/CNH is trading above the 200-day moving average for the first time in over two months. USD/CNH continues to gain altitude amid re-escalation of the US-China trade tensions, having witnessed a bullish flag breakout earlier this month The currency pair is currently trading at 6.8282, having hit a high of 6.8334 earlier today – a level last seen on April 9. The pair is also trading above the key 200-day moving average (MA) for the first time since Feb. 19. A close above the 200-day MA would only bolster the already bullish technical setup. That said, the momentum may slow, as the 14-day relative strength index (RSI) has moved above 70.00 for the first time in nearly 9 months. Pullbacks, however, if any, could find bids around the ascending 10-day MA, currently at 6.7861 Daily chart Trend: Bullish  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 Forecast May 6-10 – Will RBA finally press the rate trigger? Kenny Fisher 3 years Yuan's offshore exchange rate (CNH) hot four-month low soon before press time. USD/CNH is trading above the 200-day moving average for the first time in over two months. USD/CNH continues to gain altitude amid re-escalation of the US-China trade tensions, having witnessed a bullish flag breakout earlier this month The currency pair is currently trading at 6.8282, having hit a high of 6.8334 earlier today - a level last seen on April 9. The pair is also trading above the key 200-day moving average (MA) for the first time since Feb. 19. A close above the 200-day MA would only… 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.
