USDCNY - Daily - Time for Yuan to recover some of its losses?
Trade Alert
It looks like the Yuan is trying to fight back and recover some of its losses recently. USDCNY is currently below the 21 EMA, which could be interpreted as a bearish signal for the pair.
A break below the 6.383 level could open the path towards the next key area of support at 6.355. Below that, we have another good area of support at 6.325.
On the upside, a move back above 6.410 could interest the bulls in driving the pair higher towards the 6.435.
Don't forget your SL.
It looks like the Yuan is trying to fight back and recover some of its losses recently. USDCNY is currently below the 21 EMA, which could be interpreted as a bearish signal for the pair.
A break below the 6.383 level could open the path towards the next key area of support at 6.355. Below that, we have another good area of support at 6.325.
On the upside, a move back above 6.410 could interest the bulls in driving the pair higher towards the 6.435.
Don't forget your SL.