USD/CNH Technical Analysis: Bulls in control

  • The falling wedge breakout and the higher lows and higher highs pattern in the USD/CNH hourly chart indicates the bulls are in control and the pair could rise to the recent high of 6.9124.
  • A violation of the rising trendline would abort the immediate bullish view.

Hourly chart

Spot Rate: 6.8867

Daily High: 6.8909

Daily Low: 6.8631

Trend: Bullish


R1: 6.9015 (daily pivot resistance 2)

R2: 6.9124 (Aug. 3 high)

R3: 6.9473 (daily pivot resistance 3)


S1: 6.8835 (daily pivot resistance 1 turned support)

S2: 6.8643 (rising trendline support)

S3: 6.8473 (50-hour moving average)

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.