Tuesday, June 25, 2019
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USD/CNH 14/01/19 | EconAlerts

Technical Analysis – USD/CNH erases downward rally

USD/CNH erases downward rally; rebounds on a 6-month low. USD/CNH plunged to a new six-month low of 6.7360 in Friday’s session, creating three straight negative days. The price dropped beneath the 23.6% Fibonacci retracement level of the up-leg from 6.2350 to 6.9781, however, currently, it is paring some of the lost ground. The RSI is pointing

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the chinese national flag | EconAlerts

Chinese PMI coming up with trade concerns still in the background

Chinese official PMI data for August is due on Friday at 0100 GMT. Manufacturing activity, which is expected to gather the most interest, is anticipated to ease for the third straight month, though to yet again remain in growth territory. Beyond data releases, US-China trade considerations are still at play, with any updates likely to prove market-moving. Figures out

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