USD/CNH Technical Analysis: Neutral outlook, conflicting chart signals

63
  • The USD/CNH is currently reporting moderate gains at 6.9218, having defended the 89-day SMA in the previous two trading days.
  • The 15-minute chart shows a rising wedge breakdown (bearish pattern) has failed and the pair has violated the bearish falling tops pattern. 
  • Still, it is too early to call a bullish reversal as the 5-day and 10-day EMAs are trending south. Notably, the 5-day EMA is acting as strong resistance today.
  • The immediate outlook remains neutral and only a daily close below the 89-day SMA would revive the bearish view.

15-minute chart


	USD/CNH Technical Analysis: Neutral outlook, conflicting chart signals

Daily chart


	USD/CNH Technical Analysis: Neutral outlook, conflicting chart signals

Trend: Neutral

USD/CNH

Overview:
    Last Price: 6.9208
    Daily change: 74 pips
    Daily change: 0.107%
    Daily Open: 6.9134
Trends:
    Daily SMA20: 6.9329
    Daily SMA50: 6.8911
    Daily SMA100: 6.8187
    Daily SMA200: 6.5758
Levels:
    Daily High: 6.9285
    Daily Low: 6.8895
    Weekly High: 6.9808
    Weekly Low: 6.8524
    Monthly High: 6.9798
    Monthly Low: 6.8674
    Daily Fibonacci 38.2%: 6.9136
    Daily Fibonacci 61.8%: 6.9044
    Daily Pivot Point S1: 6.8924
    Daily Pivot Point S2: 6.8715
    Daily Pivot Point S3: 6.8534
    Daily Pivot Point R1: 6.9314
    Daily Pivot Point R2: 6.9495
    Daily Pivot Point R3: 6.9704

LEAVE A REPLY

Please enter your comment!
Please enter your name here