Forex - Chart USD/CNY [CN] Update: Broke 2-1/2 week diagonal-triangle


Published at 01:36 (GMT) 09 Apr

  

Chart USD/CNY [CN] Update: Broke 2-1/2 week diagonal-triangle (FQRC7001)

09 Apr USD/CNH Daily

01::25 GMT - Sharp decline below the support line of 2-1/2 week diagonal-triangle, enforced by the negative cross-over seen on daily MACD is setting the tone for deeper pullback towards the beginning point of this pattern at 6.1716. Shorts favoured. [W.T]
R5: 6.2217 4 Apr high
R4: 6.2150 7 Apr high
R3: 6.2130 8 Apr high
R2: 6.1986 intraday level
R1: 6.1967 2 Apr low

S1: 6.1838 26 Mar low
S2: 6.1716 * 25 Mar low
S3: 6.1590 18 Mar low
S4: 6.1520 17 Mar low
S5: 6.1500 * 12 Mar high

Recommended Content


Recommended Content

Editors’ Picks

USD/JPY jumps above 156.00 on BoJ's steady policy

USD/JPY jumps above 156.00 on BoJ's steady policy

USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 inflation forecast, disappointing the Japanese Yen buyers. 

USD/JPY News

AUD/USD consolidates gains above 0.6500 after Australian PPI data

AUD/USD consolidates gains above 0.6500 after Australian PPI data

AUD/USD is consolidating gains above 0.6500 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data. 

AUD/USD News

Gold price keeps its range around $2,330, awaits US PCE data

Gold price keeps its range around $2,330, awaits US PCE data

Gold price is consolidating Thursday's rebound early Friday. Gold price jumped after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could lower borrowing costs. Focus shifts to US PCE inflation on Friday. 

Gold News

Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high

Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high

Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.

Read more

US economy: Slower growth with stronger inflation

US economy: Slower growth with stronger inflation

The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.

Read more

Majors

Cryptocurrencies

Signatures