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: Policymakers attempt to slow pace of depreciation – OCBC

Source Fxstreet

USD/CNH traded higher but eased post CNY fix. Pair was last at 7.2236, OCBC’s FX analysts Frances Cheung and Christopher Wong note.

Bullish momentum on daily chart intact

“CNY fix came in much stronger than expected this morning – ‘conveys’ a message that recent spot USD/CNH move may be coming close to testing policymakers' threshold of tolerance for CNH weakness. On one hand, it may serve as a deterrence against further weakening in RMB but on the other, trump trade momentum may mean that USD/CNH remains better bid on dips.”

“Given a strong USD trend, policymakers can only slow pace of RMB depreciation at best. For USD/CNH to reverse trend, the USD needs to ease.”

“Bullish momentum on daily chart intact while RSI is near overbought conditions. Resistance at 7.25, 7.2750 levels. Support at 7.22, 7.20 (200 DMA).”

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

Recommended Articles

Solana Future: From high-speed experiment to corporate treasury playbook for the next SOL cycle Solana’s Proof of History architecture is colliding with rising institutional treasury adoption and governance scrutiny, with SOL’s next cycle hinging on validator distribution, stability, and regulated capital access.

Author Mitrade

Jan 12, Mon

Solana’s Proof of History architecture is colliding with rising institutional treasury adoption and governance scrutiny, with SOL’s next cycle hinging on validator distribution, stability, and regulated capital access.

Gold Price Forectast: XAU/USD rises above $4,600 on US rate cut expectations, Fed uncertainty Gold price (XAU/USD) rises to around $4,600 during the early Asian session on Wednesday. The precious metal gains momentum as traders firm up bets on US interest rate cuts after the release of inflation data.

Author FXStreet

Jan 14, Wed

Gold price (XAU/USD) rises to around $4,600 during the early Asian session on Wednesday. The precious metal gains momentum as traders firm up bets on US interest rate cuts after the release of inflation data.

Silver Price Forecast: XAG/USD corrects to near $86.50 as Iran stops killing protesters Silver price corrects almost 6% to near $86.50 during the Asian trading session on Thursday.

Author FXStreet

Jan 15, Thu

Silver price corrects almost 6% to near $86.50 during the Asian trading session on Thursday.

Standard Chartered lifts Ethereum call to $7,500, arguing institutional demand could leave Bitcoin trailing Standard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.

Author Mitrade

Jan 15, Thu

Standard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.

Bitcoin Flashes Classic Bottom Signals as BTC Nears $101K Reclaim Bitcoin nears two-month highs with key indicators signaling potential for further gains as it targets $101,000.

Author Mitrade

Jan 16, Fri

Bitcoin nears two-month highs with key indicators signaling potential for further gains as it targets $101,000.

Popular Symbols