USD/CNY: Bulls to retest the trend line at 7.2610 – Societe Generale
Source Fxstreet
USD/CNY experienced a sharp down after falling from 7.2760. It briefly dipped below the 200-DMA (7.2200). It’s trading upwards now, but it would be interesting to see if the pair can re-establish above the trend line at 7.2610, Societe Generale FX strategists note.
An upward break above 7.2610 is possible
“USD/CNY has experienced a sharp down move after facing stiff resistance near 7.2760 earlier this month. It breached an ascending trend line drawn since January and briefly dipped below the 200-DMA (7.2200).”
“An initial bounce is taking shape, but it would be interesting to see if the pair can re-establish above the trend line at 7.2610. This crossover can lead to resumption in up move. The MA near 7.2200 is short-term support.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Silver Price Forecast: XAG/USD plummets below $76 as oil price posts fresh weekly highSilver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
Silver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – fades an Asian session spike to the $95.80-$95.85 area, or a one-and-a-half-week top, and retreats to the lower end of its daily range in the last hour.
JPMorgan Chase has raised its year-end target for the S&P 500, noting that the core driver is not a simple recovery in sentiment, but rather upward earnings revisions for AI-related techn
AUD/USD pares its recent losses from the previous day, trading around 0.7160 during the Asian hours on Wednesday.
Tesla Q1 2026 Earnings Preview: 50,000-Unit Inventory Overhang, Energy Storage Halved, 5 Core Metrics Long-Term Investors Should Really WatchIntroductionTesla (TSLA) is scheduled to release its first-quarter 2026 earnings report after the U.S. market close on April 22. The Non-GAAP EPS consensus from Tesla's official compilation (comprisin
IntroductionTesla (TSLA) is scheduled to release its first-quarter 2026 earnings report after the U.S. market close on April 22. The Non-GAAP EPS consensus from Tesla's official compilation (comprisin
