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USDCNH trades at 6.8100, in the middle...>

CHINA YUAN
CHINA YUAN: USDCNH trades at 6.8100, in the middle of its relatively tight daily
range. Yesterday's high of 6.8446 is likely to provide the next meaningful level
of resistance, while yesterday's low of 6.7911 should act as support. 
- Bears will take some comfort in the fact that upside momentum is waning as
shown by the bearish divergence on the daily RSI. Also, the collapse in Chinese
interest rate swaps has abated. 
- That said, with China increasingly turning to fiscal stimulus to help support
its economy, the fundamental outlook remains yuan bearish. 

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