Forex - Chart USD/CNH Update: Strong hurdle at 6.2900 to check further gain


Published at 01:59 (GMT) 18 Feb


Chart USD/CNH Update: Strong hurdle at 6.2900 to check further gain (CWBC8001)

18 Feb USD/CNH Daily

01::42 GMT - Swing from the 6.2367 low extending and targeting the strong resistance at 6.2900 but with most Asia players heading into the long Lunar New Year, trade expected to be thin and expect further gain to be checked by the latter. [W.T]
R5: 6.3080 * 3 Oct 2012 high
R4: 6.3003 28 Sep 2010 low
R3: 6.2957 10 Oct high
R2: 6.2900 * 30 Jan high
R1: 6.2858 17 Feb high

S1: 6.2756 intraday level
S2: 6.2646 17 Feb low
S3: 6.2584 10 Feb high, break
S4: 6.2453 16 Feb low
S5: 6.2367 13 Feb low

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD retreats below 1.0700 after US GDP data

EUR/USD retreats below 1.0700 after US GDP data

EUR/USD came under modest bearish pressure and retreated below 1.0700. Although the US data showed that the economy grew at a softer pace than expected in Q1, strong inflation-related details provided a boost to the USD.

EUR/USD News

GBP/USD declines below 1.2500 as USD rebounds

GBP/USD declines below 1.2500 as USD rebounds

GBP/USD declined below 1.2500 and erased the majority of its daily gains with the immediate reaction to the US GDP report. The US economy expanded at a softer pace than expected in Q1 but the price deflator jumped to 3.4% from 1.8%. 

GBP/USD News

Gold drops below $2,320 as US yields shoot higher

Gold drops below $2,320 as US yields shoot higher

Gold lost its traction and turned negative on the day below $2,320 in the American session on Thursday. The benchmark 10-year US Treasury bond yield is up more than 1% on the day above 4.7% after US GDP report, weighing on XAU/USD.

Gold News

XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger

XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger

Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP. 

Read more

After the US close, it’s the Tokyo CPI

After the US close, it’s the Tokyo CPI

After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.

Read more

Majors

Cryptocurrencies

Signatures