Published at 01:40 (GMT) 29 May
29 May USD/CNH Daily
02::07 GMT - The move to 6.2004 low last session is helping to retain downside pressure and intraday trade should continue to attract the short side with slippage below 6.1992 support to expose further setback towards stronger support at 6.1934. [W.T]
R5: 6.2246 * 27 Apr high
R4: 6.2198 28 Apr high
R3: 6.2166 * 11 May high
R2: 6.2108 * 13/19 May highs
R1: 6.2069 28 May high
S1: 6.1992 25 May low
S2: 6.1934 * 22 May low
S3: 6.1883 27 Apr low
S4: 6.1863 * 17 Apr low
S5: 6.1842 * 61.8% of 6.1113-6.3020 up-leg
Recommended Content
Editors’ Picks
EUR/USD retreats to 1.0750, eyes on Fedspeak
EUR/USD stays under modest bearish pressure and trades slightly near 1.0750 on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD struggles to hold above 1.2500 ahead of Thursday's BoE event
GBP/USD stays on the back foot and trades in negative territory below 1.2500 after losing nearly 0.5% on Tuesday. The renewed US Dollar strength on hawkish Fed comments weighs on the pair as market focus shifts to the BoE's policy announcements on Thursday.
Gold fluctuates in narrow range below $2,320
After retreating to the $2,310 area early Wednesday, Gold regained its traction and rose toward $2,320. Hawkish tone of Fed policymakers help the US Treasury bond yields edge higher and make it difficult for XAU/USD to gather bullish momentum.
SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51
Ripple (XRP) dipped to $0.51 low on Wednesday, erasing its gains from earlier this week. The Securities and Exchange Commission (SEC) filing is now public, in its redacted version.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the US appears to be in solid shape. Although real GDP growth came in well below consensus expectations, the headline miss was mostly the result of larger-than-anticipated drags from trade and inventories.