Economists at Standard Chartered believe the USD/CNH pair has further scope to fall, with levels around 6.46 offering the next major technical support. Key quotes “USD/CNH continues to track lower from its May peak around 7.200 and has some further scope to fall, in our view. We expect significant technical support around the 6.450-6.470 region could be tested soon, but that this level may hold as the pair treads water awaiting the incoming Biden administration.” “Recent comments from Biden suggest that nothing much will change for US-China relations initially, and we anticipate stability would be a preferred approach from the PBoC.” “We expect initial resistance around 6.680 in the event of a broad USD corrective bounce. A break below strong support at 6.450 would open an extension to 6.380.” 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 AUD/USD: Dips to 0.7325/50 offer an opportunity to buy – Westpac FX Street 2 years Economists at Standard Chartered believe the USD/CNH pair has further scope to fall, with levels around 6.46 offering the next major technical support. Key quotes “USD/CNH continues to track lower from its May peak around 7.200 and has some further scope to fall, in our view. We expect significant technical support around the 6.450-6.470 region could be tested soon, but that this level may hold as the pair treads water awaiting the incoming Biden administration.” “Recent comments from Biden suggest that nothing much will change for US-China relations initially, and we anticipate stability would be a preferred approach from the… 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.
