Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Technical Analysis

USD/CNH: 2-way risks – OCBC

Source Fxstreet

The NDRC press conference appears to run short on details with regards to stimulus measures. USD/CNH was last at 7.0582, OCBC’s FX strategist Christopher Wong notes.

Bullish momentum on daily chart intact

“Hopes were raised but the delivery was disappointing. Post-opening rally in Chinese equities has partially fizzled out as the lack of followthrough is a setback to sentiments, and CNH-sensitive FX, including AUD, KRW, MYR.”

“Near term, USD/CNH should continue to face 2-way risks as markets digest 1/ the disappointment over the lack of details on China stimulus; 2/ monitor daily fix for a sense of how comfortable policymakers may be with RMB’s recent price action; 3/ potential return of US exceptionalism and ahead of US elections (potentially supportive of USD).”

“Bullish momentum on daily chart intact which RSI rose. Support at 7.0320 levels. Resistance at 7.11 (50 DMA).”

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Tesla Q1 2026 Earnings Preview: 50,000-Unit Inventory Overhang, Energy Storage Halved, 5 Core Metrics Long-Term Investors Should Really Watch 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

Author TradingKey

10 hours ago

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

Gold holds steady above $4,800 amid US-Iran ceasefire uncertainty Gold price (XAU/USD) trades on a flat note near $4,825 during the early Asian session on Tuesday. The precious metal steadies amid renewed geopolitical instability in the Middle East.

Author FXStreet

19 hours ago

Gold price (XAU/USD) trades on a flat note near $4,825 during the early Asian session on Tuesday. The precious metal steadies amid renewed geopolitical instability in the Middle East.

How Will the U.S.-Iran Situation Evolve? What Is Behind the Nasdaq’s Record High?The conflict in the Middle East escalated further over the weekend. Optimistic signals released by Trump were refuted by the Iranian side. According to Reuters, the U.S. military seized a

Author TradingKey

Yesterday 10: 49

The conflict in the Middle East escalated further over the weekend. Optimistic signals released by Trump were refuted by the Iranian side. According to Reuters, the U.S. military seized a

U.S.-Iran Standoff Suddenly Escalates Over Weekend, Crude Jumps 8% at Monday Open Over the weekend, the U.S. and Iran engaged in a new round of maneuvering over the situation in the Middle East, leading to a rapid escalation in geopolitical risks. As a result, internat

Author TradingKey

Yesterday 02: 37

Over the weekend, the U.S. and Iran engaged in a new round of maneuvering over the situation in the Middle East, leading to a rapid escalation in geopolitical risks. As a result, internat

Gold slumps below $4,800 on renewed Strait of Hormuz tensions Gold price (XAU/USD) slumps to around $4,775 during the early Asian session on Monday. Traders digest renewed tensions between the United States (US) and Iran over the critical Strait of Hormuz.

Author FXStreet

Yesterday 01: 40

Gold price (XAU/USD) slumps to around $4,775 during the early Asian session on Monday. Traders digest renewed tensions between the United States (US) and Iran over the critical Strait of Hormuz.

Popular Symbols