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Further CNY Depreciation Weighs On EM FX


Aussie Awaits RBA Decision Next Week


(M2) Trend Condition Remains Bearish


(M2) At New Cycle Lows

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Cnh6.6053-6227 Support Key *RES....>

DOLLAR-CNH TECHS: Cnh6.6053-6227 Support Key
*RES 4: Cnh6.7154 - Low Aug 1 now resistance 
*RES 3: Cnh6.6886 - High Aug 17 
*RES 2: Cnh6.6785 - High Sept 28 
*RES 1: Cnh6.6685 - Bollinger band top
*PRICE: Cnh6.6470 @ 2300GMT
*SUP 1: Cnh6.6346 - Low Sept 29
*SUP 2: Cnh6.6227 - Low Sept 27
*SUP 3: Cnh6.6053 - Low Sept 26 
*SUP 4: Cnh6.5860 - High Sept 22 now support
*COMMENTARY: The recovery from 2017 lows resulted in spikes above the 55-DMA
(Cnh6.6471) but follow through has been lacking. Daily studies looking to
correct from O/B and the Bollinger top limiting follow through increase the risk
of a correction lower. Bears now need a close below Cnh6.6227 to confirm a break
of the 55-DMA and below Cnh6.6053 to shift focus back to Cnh6.5573-5860 where
the 21-DMA is located.

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