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Unable To Sustain Break of 20-Day EMA

CNH

USD/CNH sits at 7.2900/50, little changed from opening levels in a muted start to Tuesday's trade.

  • On Monday the pair ticked higher as the cross was unable to sustain Friday's break of the 20-Day EMA (7.2912). Asian gains were consolidated through the European and NY session in narrow ranges.
  • Technically we remain in an uptrend. Bulls focus on the high from 8 Sep (7.3682). On the downside bears focus on the low from 1 Sep (7.2392), the 200-Day EMA comes in at 7.0852.
  • The local docket is empty today.

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