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USDCNH Resumes Its Primary Uptrend

USDCNH is firmer today and the primary uptrend has resumed. Technical trend readings are unsurprisingly in a bull mode position. Moving average studies, a positive price sequence of higher highs and higher lows and rising momentum, all point to a continuation higher in the pair.

USDCNH has resumed its uptrend.

  • Technical trend readings are unsurprisingly in a bull mode position.
  • Moving average studies, a positive price sequence of higher highs and higher lows and rising momentum, all point to a continuation higher in the pair.
  • The extension higher signals scope for gains towards the following price points next:
    • RES 1: 7.3693 1.00 projection of the Sep 12 - 28 - Oct 5 price swing.
    • RES 2: 7.4000 Round number resistance
    • RES 3: 7.4535 1.00 projection of the Sep 12 - 28 - Oct 5 price swing
  • Initial support is at 7.1611, the 20-day EMA ahead of 7.0127, the Oct 5 low and key trend support.
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USDCNH has resumed its uptrend.

  • Technical trend readings are unsurprisingly in a bull mode position.
  • Moving average studies, a positive price sequence of higher highs and higher lows and rising momentum, all point to a continuation higher in the pair.
  • The extension higher signals scope for gains towards the following price points next:
    • RES 1: 7.3693 1.00 projection of the Sep 12 - 28 - Oct 5 price swing.
    • RES 2: 7.4000 Round number resistance
    • RES 3: 7.4535 1.00 projection of the Sep 12 - 28 - Oct 5 price swing
  • Initial support is at 7.1611, the 20-day EMA ahead of 7.0127, the Oct 5 low and key trend support.