USD/CNH struggles to break 50-DMA at 7.12 – Société Générale
Source Fxstreet
USD/CNH faces downward pressure after failing to clear 7.12, with technical patterns pointing to a possible drop toward 7.05–7.01 if key support at 7.08 gives way, Société Générale's FX analysts note.
MACD confirms persistent bearish momentum
"USD/CNH has failed to establish beyond the 50-DMA near 7.12 in recent bounce attempt denoting prevalence of downward momentum. This is also highlighted by the daily MACD which remains anchored within negative territory."
"The pair has evolved within a pattern resembling a descending triangle and is drifting towards the lower limit at 7.08. Failure to defend this may lead to a deeper decline towards next projections at 7.05 and perhaps even towards 7.02/7.01."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Google accelerates its post-quantum cryptography timeline to 2029 in its latest researchGoogle Quantum AI has released research showing that breaking Bitcoin’s encryption may require significantly fewer quantum resources than previously estimated. This discovery could potentially unlock billions of dollars in funds dormant due to private key losses. While Google’s discovery benefits individuals with no access to their fortunes, as Elon Musk promptly pointed out, it also […]
Google Quantum AI has released research showing that breaking Bitcoin’s encryption may require significantly fewer quantum resources than previously estimated. This discovery could potentially unlock billions of dollars in funds dormant due to private key losses. While Google’s discovery benefits individuals with no access to their fortunes, as Elon Musk promptly pointed out, it also […]
Ripple and Convera are working together to make cross-border payments faster using stablecoins and blockchain.
Silver (XAG/USD) price has bounced roughly 18% from its 2026 low, currently trading above $72. The recovery followed a hidden bullish divergence that began forming in December. Additionally, the lates
The XRP price traded at $1.31 on March 31, sitting directly above the neckline of a head-and-shoulders pattern that carries an 18% measured breakdown target if it fails.The 4-hour chart shows the righ
Markets are already reacting to rising geopolitical risk. Several Polymarket insiders who successfully bet on the start date of the Iran war are now betting heavily on US boots on the ground in Iran.N
Related Instrument
