Free Trial
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.
CNH
CNH/KRW has been in a downtrend since charting a bearish Harami candlestick pattern on Mar 10/11, when the RSI crossed below the 70 threshold. Support from the 50-DMA gave way earlier this week, and the rate descended onto the 38.2% retracement of the Dec 7 - Mar 10 rally today.
- The pair last sits at KRW171.86, 40 pips lower on the day. A clean break below the aforementioned 38.2% Fibo level at KRW171.79 would give bears a green light for targeting Feb 22 low of KRW171.04. Bulls look for a bounce above the 50-DMA at Y172.69, which would shift focus to the KRW174.00 mark, which capped gains in the second half of Mar.
Fig. 1: CNH/KRW
Source: MNI - Market News/Bloomberg
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok