- USD/CNH: Break beyond 7.27/7.30 essential to confirm next leg of uptrend – SocGen
Notícias do Mercado
25 julho 2023
USD/CNH: Break beyond 7.27/7.30 essential to confirm next leg of uptrend – SocGen
Economists at Société Générale analyze USD/CNH technical outlook.
Pause within uptrend
Short-term price action is likely to remain in a range.
USD/CNH up move faced stiff resistance near graphical levels of 7.27/7.30 representing the high of last September and has embarked on a phase of pullback. Recent bounce attempt has resulted in formation of a lower peak. Short-term price action is likely to remain in a range.
In case the pair fails to defend recent pivot low near 7.11/7.10, there would be risk of an extended down move.
A break beyond 7.27/7.30 would be essential to confirm next leg of uptrend.
O foco de mercado
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