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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
The downswing seen on Weds/Thurs coincided with the RSI's pullback under the 70 threshold, but a layer of support is materialising. CNH/THB has consolidated above the 23.6% retracement of the Jan 22 - Apr 13 rally at THB4.7707, which limited losses yesterday.
- A fall through that Fibo level would allow bears to take aim at Mar/Apr lows, located just above the 38.2% retracement of the YtD rally at THB4.7389.
- Bulls need to reclaim Apr 13 high of THB4.8221 before targeting THB4.8766/96, which represent Aug 8, 2018 high/76.4% recovery of the Jun 18, 2018 - Oct 10, 2019 sell-off.
Fig. 1: CNH/THB
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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