The USD/CNH pair created a long-legged doji candle yesterday, signaling seller exhaustion/indecision in the market place. That, coupled with the bullish divergence on the hourly and 4-hour chart RSIs indicates a temporary low is likely in place at 6.6874.
That said, a close above the downward sloping 10-day MA, currently at 6.7579, is needed to abort the bearish view.
Daily chart
-636863971976259875.png)
Hourly chart
-636863972264393023.png)
Trend: corrective bounce
Share
