The USD/CNH pair closed at 6.9745 yesterday (above the August high of 6.9584), bolstering the already bullish setup: the ascending 5-day and 10-day exponential moving averages (EMAs) are trending north. The RSI of 68 is biased toward the bulls and the MACD is signaling that bullish momentum is again gathering pace. Hence, the path of least resistance is on the higher side. The pair looks set to test the psychological hurdle of 7.00. The bullish outlook would be invalidated by a drop below the bullish 10-day EMA. A daily close below the trendline connecting the Aug. 27 low and Sept. 21 low would put the bears back into a commanding position. Daily Chart Trend: Bullish USD/CNH Overview: Last Price: 6.973 Daily change: -23 pips Daily change: -0.0330% Daily Open: 6.9753 Trends: Daily SMA20: 6.9236 Daily SMA50: 6.881 Daily SMA100: 6.793 Daily SMA200: 6.5618 Levels: Daily High: 6.976 Daily Low: 6.9514 Weekly High: 6.9772 Weekly Low: 6.9299 Monthly High: 6.8931 Monthly Low: 6.8218 Daily Fibonacci 38.2%: 6.9666 Daily Fibonacci 61.8%: 6.9608 Daily Pivot Point S1: 6.9591 Daily Pivot Point S2: 6.943 Daily Pivot Point S3: 6.9345 Daily Pivot Point R1: 6.9837 Daily Pivot Point R2: 6.9922 Daily Pivot Point R3: 7.0083 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 BHP trims US-China growth forecasts on trade tensions FX Street 4 years The USD/CNH pair closed at 6.9745 yesterday (above the August high of 6.9584), bolstering the already bullish setup: the ascending 5-day and 10-day exponential moving averages (EMAs) are trending north. The RSI of 68 is biased toward the bulls and the MACD is signaling that bullish momentum is again gathering pace. Hence, the path of least resistance is on the higher side. The pair looks set to test the psychological hurdle of 7.00. The bullish outlook would be invalidated by a drop below the bullish 10-day EMA. A daily close below the trendline connecting the Aug. 27 low and Sept.… 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.
