USD/CNH’s daily chart shows the tide has turned in favor of the bears. The pair risks falling to recent lows near 6.95. The path of least resistance for USD/CNH is to the downside. The currency pair fell 0.24% on Tuesday, confirming an end of the corrective bounce from the Nov. 7 low of 6.9525 signaled by multiple rejections above the 100-day moving average seen in the four days to Nov. 25. With the lower high in place near 7.05, the pair risks falling below 7.00 on Wednesday and could soon revisit recent lows near 6.95. At press time, the pair is trading at 7.0162. A daily close above the 100-day moving average at 7.0481 is needed to confirm a bullish reversal. Daily chart Trend: Bearish Technical levels 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 Gold: Bulls face a wall of risk-on headlines, although Fed far from hiking FX Street 3 years USD/CNH's daily chart shows the tide has turned in favor of the bears. The pair risks falling to recent lows near 6.95. The path of least resistance for USD/CNH is to the downside. The currency pair fell 0.24% on Tuesday, confirming an end of the corrective bounce from the Nov. 7 low of 6.9525 signaled by multiple rejections above the 100-day moving average seen in the four days to Nov. 25. With the lower high in place near 7.05, the pair risks falling below 7.00 on Wednesday and could soon revisit recent lows near 6.95. At press time,… 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.
