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Free AccessUSDCNH is testing support at 6.7000......>
CHINA YUAN: USDCNH is testing support at 6.7000 after failing to break
resistance at range highs earlier today. With the euro pushing higher, breaking
above 1.1700, this will put appreciatory pressure on the yuan as the euro has a
large weight in the PBOC's yuan trading basket. A move below 6.7000 would give
yuan bulls some respite, while a break below 6.6680 would be needed to suggest a
more sustainable reversal pattern is in the works.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.