Forex - Chart USD/CNY 1-Yr Update: Bulls regained control


Published at 05:17 (GMT) 27 Feb


Chart USD/CNY 1-Yr Update: Bulls regained control (KQSC8001)

27 Feb USD/CNY 1-Yr NDF Daily

05::17 GMT - Sharp intraday rally with prices surging above 6.3980/3993hurdles easily setting bulls on firm footing and poised for extension to next resistances at 6.4105/25. Setback from expected to be shallow and attract fresh buyers. [W.T]
R5: 6.4251 13 Sep 2012 high
R4: 6.4235 * 26 Sep 2012 high
R3: 6.4202 28 Sep 2012 high
R2: 6.4125 1 Oct 2012 high
R1: 6.4105 4 Oct 2012 high

S1: 6.4025 intraday level
S2: 6.3980 17/18 Feb highs
S3: 6.3865 intraday level
S4: 6.3800 9/11 Feb highs , 26 Feb low
S5: 6.3660 16 Feb low

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD clings to gains above 1.0750 after US data

EUR/USD clings to gains above 1.0750 after US data

EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.

EUR/USD News

GBP/USD declines below 1.2550 following NFP-inspired upsurge

GBP/USD declines below 1.2550 following NFP-inspired upsurge

GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.

GBP/USD News

Gold struggles to hold above $2,300 despite falling US yields

Gold struggles to hold above $2,300 despite falling US yields

Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.

Gold News

Bitcoin Weekly Forecast: Should you buy BTC here? Premium

Bitcoin Weekly Forecast: Should you buy BTC here?

Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.

Read more

Week ahead – BoE and RBA decisions headline a calm week

Week ahead – BoE and RBA decisions headline a calm week

Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.

Read more

Majors

Cryptocurrencies

Signatures