USD/CNH is closing on the key resistance at 6.6969, which marks the confluence of a falling trendline and a downward sloping (bearish) 50-hour moving average. Hourly chart As seen above, the pair broke out of the symmetrical triangle pattern earlier today and is now trading just short of the resistance at 6.6969. With RSI already above 50.00, a break above 6.6969 could yield a stronger corrective bounce to the 5-day MA, currently located at 6.7027. Trend: Corrective bounce 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: Bulls cherish four-week high ahead of an eventful day FX Street 4 years USD/CNH is closing on the key resistance at 6.6969, which marks the confluence of a falling trendline and a downward sloping (bearish) 50-hour moving average. Hourly chart As seen above, the pair broke out of the symmetrical triangle pattern earlier today and is now trading just short of the resistance at 6.6969. With RSI already above 50.00, a break above 6.6969 could yield a stronger corrective bounce to the 5-day MA, currently located at 6.7027. Trend: Corrective bounce 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.
