USD/CNH: Further retracement likely near term – UOB
- ByFXStreet-
The resumption of the selling pressure could force USD/CNH to recede to the 6.7000 region and probable 6.6700 in the next weeks, commented FX Strategi
Symbol | Exchange | Currency |
|---|
The resumption of the selling pressure could force USD/CNH to recede to the 6.7000 region and probable 6.6700 in the next weeks, commented FX Strategi
In view of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, USD/CNH could now drift lower to, initially, the 6.7000 region in the next week
Economists at CreditSuisse continue to look for USD/CNH to trade in a 6.65-7.15 range over the next three months. PBoC’s “red line” for USD/CNY is at
Powell promises continuous hikes till evidence of cooling inflationUS retail sales increase, manufacturing output jumpsDollar recovered after recent weaknessKey EventsGlobal...
Yuan Surges On Speculation China's Covid Lockdowns Will End SoonThree weeks ago, when looking at the pattern in China's covid data, we said that China's covid panic is almost...
The trade-weighted renminbi has now fallen 6% from its highs seen in March. One cannot but think that this is a policy adjustment by Chinese authorities as they search to stimulate...
Type | 5 Min | 15 Min | Hourly | Daily | Monthly |
|---|---|---|---|---|---|
| Moving Averages | Sell | Sell | Strong Sell | Buy | Strong Buy |
| Technical Indicators | Strong Sell | Strong Sell | Strong Sell | Strong Buy | Strong Buy |
| Summary | Strong Sell | Strong Sell | Strong Sell | Strong Buy | Strong Buy |
Pattern | Timeframe | Reliability | Candles Ago | Candle Time | |
|---|---|---|---|---|---|
| Completed Patterns | |||||
| Evening Star | 1M | 31 | Oct 19 | ||
| Three Black Crows | 15 | 46 | May 19, 2022 01:15 | ||
Time | Cur. | Imp. | Event | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| Thu, 19 May 2022 | ||||||
| 13:30 | USD | 1,320.00K | 1,343.00K | |||
| 13:30 | USD | 200.00K | 203.00K | |||
| 13:30 | USD | 192.75K | ||||
| 13:30 | USD | 16.00 | 17.60 | |||
| 13:30 | USD | 8.20 | ||||
| 13:30 | USD | 19.90 | ||||
| 13:30 | USD | 41.40 | ||||
| 13:30 | USD | 17.80 | ||||
| 13:30 | USD | 84.60 | ||||
| 15:00 | USD | 5.65M | 5.77M | |||
| 15:00 | USD | -2.70% | ||||
| 15:00 | USD | 0.30% | 0.30% | |||
| 15:30 | USD | 87.00B | 76.00B | |||
| 16:30 | USD | 0.60% | ||||
| 16:30 | USD | 0.755% | ||||
| 18:00 | USD | -0.589% | ||||
| Fri, 20 May 2022 | ||||||
| 18:00 | USD | 563.00 | ||||
| 18:00 | USD | 714.00 | ||||
| 20:30 | USD | 3.60K | ||||
| 20:30 | USD | -22.60K | ||||
| 20:30 | USD | 470.90K | ||||
| 20:30 | USD | 310.80K | ||||
| 20:30 | USD | 193.30K | ||||
| 20:30 | USD | 13.50K | ||||
| 20:30 | USD | -112.50K | ||||
| 20:30 | USD | 121.80K | ||||
| 20:30 | USD | 19.10K | ||||
| 20:30 | USD | 174.60K | ||||
| 20:30 | USD | 21.70K | ||||