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USDCNH broke above resistance............>

CHINA YUAN
CHINA YUAN: USDCNH broke above resistance yesterday marking the down trendline
from the Nov 1 high and the pair continues to hold this level now as support.
The cross trades at 6.9543 as the Nov 12 highs become the next upside target
ahead of a return to ytd highs and the key 7.0 level. 
- The yuan has followed mainland stocks weaker, with the CSI300 testing support
at 3100 despite the recovery seen in US stocks. 
- The move in the pair has been very much dollar driven though as EURCNH
continues to trade lower, last at 7.85, while CNHJPY is generating some upside
momentum as the pair looks to for a bullish break above the 16.4 level to
consolidate the yuan's relative recovery. 

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