USDCNH rebounded sharply from 6.4412 after several months of steady decline, facing a major resistance trend line on its daily chart now at around 6.6060. The trend line would act as the key resistance for the bearish movement from 6.8588. As long as the prices are below the trend line, the downside movement could be … Continue reading USD/CNH Facing Major Trend Line Resistance At 6.6060
EURGBP formed a double bottom pattern on its daily chart, with neckline at 0.8851 and measured move target at around 0.9400. After breaking above the neckline resistance, the pair extended its bullish movement to as high as 0.9270, facing the resistance at the October 2016 high of 0.9305. The EURGBP pair stays in a bullish … Continue reading EUR/GBP Is Facing 0.9305 Resistance
Investing.com - The People's Bank of China set the yuan mid-point at 6.597 against the dollar on Tuesday, compared to the previous close of 6.6630, marking the strongest level since Sept. 22, 2016.