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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 lost some altitude today, as the RSI retreated from overbought territory, with a bearish divergence unfolding since the Feb 8 peak. The rate last sits at KRW174.81, chewing into yesterday's gains which allowed the pair to print one-year highs.
- A fall below yesterday's trough at KRW174.30 would allow bears to target the 23.6% retracement of the Dec 7 - Mar 10 rally/Mar 8 low at KRW173.21/173.19. Conversely, bulls need a recoil above Wednesday's high of KRW175.50 before targeting KRW177.77. A clearance of the latter level would allow the rate to close the gap from Mar 25, 2020.
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.
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