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(K3) Bearish Outlook


BLOCK, Jun'23/Sep'23 SOFR Put Spd Strip

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The 6.8400 level in USDCNH is coming.....>

CHINA YUAN: The 6.8400 level in USDCNH is coming under pressure and a break
below here would trigger a break of neckline support going back to Aug 2018.
Rate differentials with the US are not confirming a bearish break for the pair
but the Chinese equity market rally suggests that risk on sentiment is resuming
which could drag the yuan up with it. 

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