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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
Spot CNH/PHP has crossed below its 50-DMA, after a failed attempt to close below that moving average on Aug 26. The last close below the 50-DMA took place on May 20. With the rate last sitting at PHP7.7000, 75 pips lower on the day, bears need a breach of Aug 26 low of PHP7.6837 before setting their sights on Aug 3 low of PHP7.6699. A dip through this latter level would represent the completion of a double top pattern. Meanwhile, bulls need a rebound above Aug 16/Jul 21 highs of PHP7.8240/7.8314 to regain the upper hand.
Fig. 1: CNH/PHP
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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