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USD/CNH Back Through Uptrend Resistance, Nearing YtD High


USD/CNH shows above CNH7.1900 on the back of the broader uptick in the USD, with bulls forcing another look through the upper boundary of the well-defined technical uptrend channel (located at CNH7.1923 today). Bulls will want to cement the first close above the channel top and YtD highs (CNH7.2034) to allow them to further cement their foothold. The ongoing Chinese holiday will limit liquidity in USD/CNH through the remainder of the week.

Fig. 1: USD/CNH

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