USD/CNH trades around 7.02 on Tuesday after slipping below the 7.04 mark. Terence Wu, an FX strategist at OCBC Bank, now expects the pair to consolidate in the 7.00 vicinity. Key quotes “State media in China is feeding the equities, dragging the rest of North Asian bourses higher. This further supports the risk-on sentiment across Asia.” “The USD/CNH broke through the floor at 7.0400/500, falling aggressively to 7.0100. For now, we expect some consolidation around the 7.0000 handle due to profit-taking.” “Overall, we see this as a catch-up decline for the USD/CNH, after the RMB’s underperformance in the past weeks.” 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 US Dollar Index rebounds from tops and looks to 97.00 FX Street 3 years USD/CNH trades around 7.02 on Tuesday after slipping below the 7.04 mark. Terence Wu, an FX strategist at OCBC Bank, now expects the pair to consolidate in the 7.00 vicinity. Key quotes “State media in China is feeding the equities, dragging the rest of North Asian bourses higher. This further supports the risk-on sentiment across Asia.” “The USD/CNH broke through the floor at 7.0400/500, falling aggressively to 7.0100. For now, we expect some consolidation around the 7.0000 handle due to profit-taking.” “Overall, we see this as a catch-up decline for the USD/CNH, after the RMB’s underperformance in the past weeks.”… 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.
