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
Bitcoin Cash (BCH) NewsTradingKey - On December 4, 2025, Bitcoin Cash (BCH) led the crypto market, surging over 8% to near $600, pushing its market capitalization into the global top 10. In the past y
EMJ Capital CEO Eric Jackson predicts Bitcoin could hit $50 million by 2041, arguing it will replace the Eurodollar system as the neutral collateral layer for global sovereign debt.
Bitcoin experiences significant volatility, dropping toward $87,000 ahead of a crucial Federal Reserve interest-rate decision.
The AUD/USD pair enters a bullish consolidation phase at the start of a new week and oscillates in a narrow range near its highest level since September 16, touched on Friday.
The crypto market remains unsettled two months after the "October 10" liquidation wave, one of its largest ever. Bitcoin's price has erased all its year-to-date gains, quieting prediction
