USD/CNH Technical Analysis: Lower highs favor downside move
|- The USD/CNH pair could feel the pull of gravity over the next few days, having created another lower high of 6.8755 on the daily chart.
- A similar sentiment is echoed by the descending triangle breakdown seen in the hourly chart.
- The intraday outlook would turn bullish if the pair finds acceptance above 6.8527 (lower high).
Hourly Chart
Spot Rate: 6.8289
Daily High: 6.8411
Daily Low: 6.8214
Trend: Bearish
R1: 6.8411 (session high)
R2: 6.8584 (Sep. 2 high)
R3: 6.8755 (Aug. 30 high)
Support
S1: 6.8207 (Aug. 21 low)
S2: 6.7820 (50-day MA)
S3: 6.7810 (Aug. 27 low)
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