We are now coming to a level between Euro and Renminbi (EurCny) on which holding the Chinese currency in the portfolio seems to be uninteresting. In fact, a series of technical projections are now converging, making a rebound phase at least possible for the cross. As we can see from the chart, in March 2015 we will intercept the cyclic deadline that intercepts a primary low every 19 months, we are on the trend line that connects the falling lows in place since 2008 and the 12-months Roc is now close to the -15% that in past has always favored at least a rise of a few months.
As all these considerations are converging all in unison, we think we should be cautious in judging Renminbi for the coming months.
As all these considerations are converging all in unison, we think we should be cautious in judging Renminbi for the coming months.
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