USD/CNH Technical Analysis: nearing one-year high as Chinese Yuan continues to slide

The US Dollar-Chinese Yuan pairing is clipping back into one-year highs after the US State Department specifically avoided outright labeling China a currency manipulator in their latest currency manipulation report, backing down off the US administration's terse stance towards China and their activities in currency markets. The Yuan is celebrating by continuing to sag into extreme lows that were last set in January of 2017.
As the pair remains heavily exposed to rapid shifts in market sentiment, the chance for solid technical barriers remains thin, but the 50- and 200-hour moving averages are tending towards the bullish side.
Mid-August's peak of 6.9586 remains the target for CNH short-sellers, and a repeated turnaround from the 7.0000 handle could see the pair roll over into another bearish cycle.

Joshua Gibson FXStreet

USD/CNH Chart, 1-Hour

USD/CNH

Overview:
    Last Price: 6.9366
    Daily change: 62 pips
    Daily change: 0.0895%
    Daily Open: 6.9304
Trends:
    Daily SMA20: 6.892
    Daily SMA50: 6.8691
    Daily SMA100: 6.749
    Daily SMA200: 6.5425
Levels:
    Daily High: 6.9318
    Daily Low: 6.9068
    Weekly High: 6.9433
    Weekly Low: 6.8674
    Monthly High: 6.9433
    Monthly Low: 6.8246
    Daily Fibonacci 38.2%: 6.9222
    Daily Fibonacci 61.8%: 6.9164
    Daily Pivot Point S1: 6.9142
    Daily Pivot Point S2: 6.898
    Daily Pivot Point S3: 6.8892
    Daily Pivot Point R1: 6.9392
    Daily Pivot Point R2: 6.948
    Daily Pivot Point R3: 6.9642

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD holds gains around 1.1800 amid renewed USD selling

EUR/USD regains positive traction and holds around 1.1800 in the European session, reversing the previous day's modest losses. The pair's uptick is sponsored by the emergence of fresh US Dollar selling, which remains induced by persistent trade-related uncertainties.

GBP/USD strengthens above 1.3500 on softer US Dollar

GBP/USD is posting moderate gains above 1.3500 in European trading on Wednesday. The pair appreciates as the US Dollar meets fresh supply following US President Donald Trump’s first State of the Union address and amid looming tariff uncertainty.

Gold eyes monthly top above $5,200 amid geopolitics, trade jitters

Gold buyers are back in the game, eyeing $5,200 and beyonf on Wednesday after seeing a correction from monthly highs on Tuesday. The US Dollar slips after Trump’s SOTU fails to impress and as AI-driven worries ease. Dovish Fed bets also weigh. Gold looks north so long as the key 61.8% Fibo resistance at $5,142 holds on the daily chart.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

Nvidia remains at the heart of the AI boom

Nvidia remains at the heart of the AI boom, with Q4 revenue projected near $65.6–66.1 billion, nearly 70% higher year-over-year. But investors are watching cash flow, leverage, and broader AI adoption. Growth is strong, but the AI stress isn’t over.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.