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USD/CNH has shed ~310 pips and last......>

CHINA YUAN
CHINA YUAN: USD/CNH has shed ~310 pips and last trades at CNH6.6785, as
Sino-U.S. trade developments weighs on the pair. U.S. President Trump said that
the U.S. will delay the deadline for imposing new tariffs on China, adding that
he will meet with Chinese President Xi to "conclude the agreement," as
substantial progress on trade matters has already been made.
- Bears need a fall below the lower 1.0% 10-DMA envelope at CNH6.6784, already
breached today, when the rate moved towards its session low of CNH6.6740 - a
level not seen since July 2018. Consolidation below would have bears looking to
the July 12/13 lows at of CNH6.6723/.6685. Bulls look to reclaim the 38.2%
retracement of the move from CNH6.2361 to CNH6.9805 at CNH6.6961.

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