USD/CNH resisted following sharp upside spike on negative trade war sentiment

  • USD/CNH bounced off 7.12 in the London morning to 7.1645.
  • Global Times reported that the Chinese delegation would be cutting their trip short by a day.

The markets are somewhat quiet considering the leg work was done in the European and US session following numerous trade headlines and key data, Us events which were soaked up by the time Asia come online. 

Trade talks sentiment turn sour

The main takeaway, as far as the Yuan goes, came in the negative press over this week's trade talks between the US and China that are scheduled for the end of the week. Moreover, The Global Times reported that the Chinese delegation would be cutting their trip short by a day, which just goes to show the lack of a sense of urgency nor commitments between the two nations have residing over their trade disputes. 

"The US State Department announced, ”Visa restrictions on Chinese government and Communist Party officials who are believed to be responsible for, or complicit in, the detention or abuse of Uighurs, Kazakhs, or other members of Muslim minority groups in Xinjiang, China.” USD/CNH bounced off 7.12 in the London morning to 7.1645 after the visa news, the yuan’s -0.4% fall the weakest in Asia," analysts at Westpac explained. 

USD/CNH levels:


Today last price 7.1561
Today Daily Change -0.0084
Today Daily Change % -0.12
Today daily open 7.1645
Daily SMA20 7.1129
Daily SMA50 7.1
Daily SMA100 6.9994
Daily SMA200 6.88
Previous Daily High 7.1674
Previous Daily Low 7.1186
Previous Weekly High 7.1588
Previous Weekly Low 7.1073
Previous Monthly High 7.1967
Previous Monthly Low 7.0311
Daily Fibonacci 38.2% 7.1488
Daily Fibonacci 61.8% 7.1372
Daily Pivot Point S1 7.1329
Daily Pivot Point S2 7.1014
Daily Pivot Point S3 7.0841
Daily Pivot Point R1 7.1817
Daily Pivot Point R2 7.199
Daily Pivot Point R3 7.2305



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