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Steady Start, Industrial Profits On Tap

CNH

USD/CNH sits little changed from Tuesday's closing levels last printing at 7.1420/60 in a steady start to today’s dealing.

  • On Tuesday the pair ticked lower in narrow ranges as Friday's PCE print lingered weighed on the Greenback.
  • Technically the 20-Day EMA (7.1572) has crossed the 200-Day EMA (7.1593) signalling more potential downside in the pair. Bears target a break of 7.10 which opens the 7 handle. Bulls immediate focus is on the 20-Day EMA.
  • On tap today is November Industrial Profits, there is no estimate and the prior read was 2.7% Y/Y.

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