Home USD/CNY: Edging higher after completing a base – Credit Suisse
FXStreet News

USD/CNY: Edging higher after completing a base – Credit Suisse

USD/CNY has established a near-term base suggesting further strength should unfold in due course, according to analysts at Credit Suisse.

Key quotes

“USD/CNY is grinding higher after completing a base, with the market coming to a temporary halt just ahead of the October 2019 high at 7.1522.” 

“Removal of the October 2019 high in due course would see resistance next at 2019 high at 7.1876, where we would expect to see fresh selling for a move back into the broad long-term range.”

 

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.