The bullish divergence of the relative strength index (RSI) seen in USD/CNH’s hourly chart indicates scope for a corrective bounce to 6.7374 (Jan. 11 low).
As seen above, the pair is chipping away at the falling trendline. A break higher would expose 6.7374 (Jan. 11 low) and the downward sloping 50-hour moving average (MA) currently located at 6.7415.
A move below 6.7074 would invalidate the bullish RSI divergence.
Trend: corrective bounce