The USD/CNH pair fell sharply from 6.98 to 6.91 yesterday, validating the extreme overbought conditions reported by the weekly chart relative strength index (RSI) and stochastic. The 5- and 10-day exponential moving averages (EMAs) have rolled over in favor of the bears. The pair has also dropped below the key support of the 200-candle EMA on the 4-hour chart. As a result, the pair looks set to test the support of the trendline connecting the Aug. 27 low and Sept. 21 low. At press time, the trendline support is located at 6.8926. Further losses are ruled out for now as the 4-hour chart RSI and stochastic have dropped into oversold territory. 4-hour Chart Trend: Bearish 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 European banks in the spotlight amidst stress tests – Reuters FX Street 4 years The USD/CNH pair fell sharply from 6.98 to 6.91 yesterday, validating the extreme overbought conditions reported by the weekly chart relative strength index (RSI) and stochastic. The 5- and 10-day exponential moving averages (EMAs) have rolled over in favor of the bears. The pair has also dropped below the key support of the 200-candle EMA on the 4-hour chart. As a result, the pair looks set to test the support of the trendline connecting the Aug. 27 low and Sept. 21 low. At press time, the trendline support is located at 6.8926. Further losses are ruled out for now as… 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.