Search ForexCrunch
  • The USD/CNH is currently reporting moderate gains at 6.9218, having defended the 89-day SMA in the previous two trading days.
  • The 15-minute chart shows a rising wedge breakdown (bearish pattern) has failed and the pair has violated the bearish falling tops pattern.  
  • Still, it is too early to call a bullish reversal as the 5-day and 10-day EMAs are trending south. Notably, the 5-day EMA is acting as strong resistance today.
  • The immediate outlook remains neutral and only a daily close below the 89-day SMA would revive the bearish view.

15-minute chart

Daily chart

Trend: Neutral

USD/CNH

Overview:
       Last Price:  6.9208
       Daily change:  74  pips
       Daily change:  0.107%
       Daily Open:  6.9134
Trends:
       Daily SMA20:  6.9329
       Daily SMA50:  6.8911
       Daily SMA100:  6.8187
       Daily SMA200:  6.5758
Levels:
       Daily High:  6.9285
       Daily Low:  6.8895
       Weekly High:  6.9808
       Weekly Low:  6.8524
       Monthly High:  6.9798
       Monthly Low:  6.8674
       Daily Fibonacci 38.2%:  6.9136
       Daily Fibonacci 61.8%:  6.9044
       Daily Pivot Point S1:  6.8924
       Daily Pivot Point S2:  6.8715
       Daily Pivot Point S3:  6.8534
       Daily Pivot Point R1:  6.9314
       Daily Pivot Point R2:  6.9495
       Daily Pivot Point R3:  6.9704