Free Trial

EURCNH has finally broken decisively.....>

CHINA YUAN
CHINA YUAN: EURCNH has finally broken decisively out above resistance just ahead
of 8.0, with the pair trading at four-year highs at 8.033. The 8.0 level now
turns to support, while the next significant level of resistance is not until
8.50.
- GBPCNH has also pushed into fresh multi-year high territory after overcoming
the 9.0 level, breaking above the Jan 25 high earlier today before dropping back
slightly to trade at 9.0360. The next level of resistance comes in at 9.0600
marking the Feb 2016 lows. A break above here would provide a major bullish
signal and target a move back to pre-Brexit highs for the pair.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.