USDCNY hit the 1DMA200 and rebounded. Clear bullish confirmation

26 Tem

The USDCNY pair has been trading within a Channel Up pattern since the December 15 2023 market bottom. Yesterday is completed a violent 2-day collapse and hit the 1D MA200 (orange trend-line) right at the bottom of the Channel Up.

The price almost immediately rebounded, so that gives the most clear buy confirmation on the short-term. We turn bullish again, targeting a Higher High at 7.3100 (+1.39% rise).

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