- The USD/CNH closed just below the trendline connecting the Aug. 27 and Sept. 21 lows yesterday. The trendline support proved a tough nut to crack on Nov. 2 and Nov. 5. Further, it acted as a support on Nov. 16 and Nov. 19. As a result, the bears may be feeling emboldened, more so because, pair’s attempt to retake to the trendline hurdle failed in early Asia.
- The spot looks set to test the 250-day exponential moving average (EMA), currently located at 6.0953.
- The bearish view would be invalidated if a corrective rally if any, ends up clearing the downward sloping 10-day EMA hurdle.
Daily Chart
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Trend: Bearish
USD/CNH
Overview:
Last Price: 6.9238
Daily change: -12 pips
Daily change: -0.0173%
Daily Open: 6.925
Trends:
Daily SMA20: 6.9389
Daily SMA50: 6.9123
Daily SMA100: 6.8611
Daily SMA200: 6.6128
Levels:
Daily High: 6.9504
Daily Low: 6.9215
Weekly High: 6.9701
Weekly Low: 6.9106
Monthly High: 6.9798
Monthly Low: 6.8674
Daily Fibonacci 38.2%: 6.9325
Daily Fibonacci 61.8%: 6.9394
Daily Pivot Point S1: 6.9142
Daily Pivot Point S2: 6.9034
Daily Pivot Point S3: 6.8853
Daily Pivot Point R1: 6.9431
Daily Pivot Point R2: 6.9612
Daily Pivot Point R3: 6.972
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