USD/CNH Price Analysis: Sellers attack 200-HMA on PBOC inaction

USD/CNH refreshes intraday low after PBOC kept interest rates unchanged.
200-HMA, two-week-old rising trend line probe short-term sellers.
Weekly descending trend line guards immediate upside amid sluggish MACD.

Anil Panchal FXStreet

USD/CNH fails to justify the People’s Bank of China’s (PBOC) status-quo while refreshing weekly low to 6.4728 during early Wednesday. The currency pair portrays a corrective pullback to 6.4765, down 0.05% intraday, by press time.

Read: The PBoC Interest Rate Decision unchanged

Despite the quote’s latest losses, USD/CNH sellers should remain cautious unless witnessing a downside break of an ascending trend line from January 05, at 6.4640 now. It’s worth mentioning that the 200-bar SMA offers immediate support near 6.4720.

In a case where USD/CNH bears dominate below the stated support line, the last Wednesday’s low near 6.4400 should return to the chart.

Meanwhile, a descending trend line from Monday, currently near 6.4870, will probe the short-term upside of the USD/CNH prices ahead of the key resistance line from November 24 near 6.5015.

Also acting as an upside barrier is the monthly top surrounding 6.5050, a break of which can recall USD/CNH buyers targeting December top near 6.5855.

USD/CNH hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	6.4761
Today Daily Change	-0.0033
Today Daily Change %	-0.05%
Today daily open	6.4794

Trends
Daily SMA20	6.4861
Daily SMA50	6.5254
Daily SMA100	6.6335
Daily SMA200	6.8368

Levels
Previous Daily High	6.4984
Previous Daily Low	6.4738
Previous Weekly High	6.4904
Previous Weekly Low	6.44
Previous Monthly High	6.5854
Previous Monthly Low	6.4887
Daily Fibonacci 38.2%	6.4832
Daily Fibonacci 61.8%	6.4891
Daily Pivot Point S1	6.4694
Daily Pivot Point S2	6.4593
Daily Pivot Point S3	6.4448
Daily Pivot Point R1	6.494
Daily Pivot Point R2	6.5085
Daily Pivot Point R3	6.5186

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD strengthens above 1.1800 ahead of German IFO data

EUR/USD gains ground for the second successive session, holding well above 1.1800 in the European session on Monday. The US Dollar remains heavy as a 'Sell America' theme returns to the fore amid uncertainty fuelled by US President Trump's latest tariff announcement. German IFO Survey could offer fresh trading impetus.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold clings to gains near monthly peak amid flight to safety and weak USD

Gold sticks to its bullish bias near the monthly peak heading into the European session and looks to build on last week's breakout through the $5,100 mark amid a supportive fundamental backdrop. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Liberation day take two, the tariff machine just changed gears

Let me caveat this from the outset. What we are watching is first-order mechanics, not the grand macro endgame. This is the market’s immediate reflex to a 15% Trump tariff levy dressed up as judicial drama. The Supreme Court blocked Trump tarrif hammer. The White House came back with a scalpel.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.