USDCNH has recovered most of its.........>

CHINA YUAN: USDCNH has recovered most of its losses from from the broad dollar

weakness caused by President Trump's comments on the Fed's interest rate hikes,

with the pair trading at 6.7860. 

- A potential pennant is forming on the hourly chart and a break of 6.7950 would

likely trigger a move to new highs at 6.8100. 

- Bears would need a move below 6.7700 to break the short-term uptrend and a

move below 6.7600 to make the case for a potential reversal. 

- After plunging to new cycle lows yesterday, China's interest rate swaps remain

under pressure, with the China-US 2-year spread now at just 2bps.