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USD/CNH Softer On Thursday

CNH

USD/CNH finished ~0.4% softer on Thursday.


  • The pair sits a touch below 6.83, in the NY session weakness in US equities, led by a decline in regional banks, saw CNH pare gains.
  • USD/CNH sits below its 200-Day EMA (6.8692), the next downside target is 2023 lows at 6.6975. The 20-Day EMA at 6.8818 presents the upside target for bulls.
  • The domestic data calendar is empty today.
  • In the equity space the Golden Dragon Index finished yesterdays dealing up ~3%, however the index continues to struggle to clear the 200-Day EMA. Onshore equities were higher, CSI300 was ~1% firmer

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