We have highlighted the importance of the Chinese Yuan in previous posts. Updating the technical picture. On the weekly chart, we have a MACD/Signal cross last week. On the 4hr chart, the pair is still trading below the $6.50 THE LEVEL. T-Line still capping the upside. We believe a strong move is on the cards soon. We favour a breakout of USDCNH above $6.50. Time will tell and make sure you are monitoring this pair!
1. USDCNH – Weekly & 4hr Charts: Still at a make or break inflection point!
