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: Breaking out of rising wedge – OCBC

Source Fxstreet

USD/CNH fell amid supported risk sentiments. USD/CNH fell; last seen at 7.2853 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Risks are skewed to the downside

"CSI300, HK equities printed 1% and 2%, respectively this morning. Trump said that that the phone call with President Xi on Fri was a very good one for both China and the US may have supported sentiments."

"Daily momentum is bearish bias while RSI fell. Risks are skewed to the downside. Next support at 7.2755 (23.6% fibo retracement of Sep low to Dec high). Resistance at 7.3340 (21 DMA), 7.36 levels."

"A brief respite for RMB is still likely, given that policymakers have taken efforts – both onshore (via the fix) and offshore to maintain the relative stability in RMB. That said, we still expect RMB to depreciate when tariffs ultimately hit."

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

Recommended Articles

Nvidia 2026 Shareholder Meeting Preview: Can Stock Price Hit New Highs? How Blackwell, Vera Production Ramps Will Determine Future Revenue?This Wednesday (June 24), NVIDIA (NVDA) will hold its 2026 annual meeting of stockholders online. The focus of this meeting will be the production ramp-up of Blackwell and the brand-new V

Author TradingKey

8 hours ago

This Wednesday (June 24), NVIDIA (NVDA) will hold its 2026 annual meeting of stockholders online. The focus of this meeting will be the production ramp-up of Blackwell and the brand-new V

Morgan Stanley’s Latest Assessment: Three Variables for Gold’s Rise to $5,200 — Hawkish Fed, ETF Flows, and Middle East Turmoil Morgan Stanley ( MS )'s latest precious metals research report shows that while continuous gold purchases by global central banks have provided a solid floor of support, gold ( XAUUSD )'s

Author TradingKey

9 hours ago

Morgan Stanley ( MS )'s latest precious metals research report shows that while continuous gold purchases by global central banks have provided a solid floor of support, gold ( XAUUSD )'s

Qatar and Pakistan: High-level committee agrees on roadmap to final deal within 60 days The US-Iran peace talks took place on Sunday in Bürgenstock, Switzerland, with delegations from Iran, the United States, Qatar, and Pakistan participating.

Author FXStreet

16 hours ago

The US-Iran peace talks took place on Sunday in Bürgenstock, Switzerland, with delegations from Iran, the United States, Qatar, and Pakistan participating.

Silver Price Forecast: XAG/USD rebounds to near $66.00 amid fading US-Iran talks optimism Silver price (XAG/USD) halts its three-day losing streak, trading around $65.90 per troy ounce during the Asian hours on Monday.

Author FXStreet

17 hours ago

Silver price (XAG/USD) halts its three-day losing streak, trading around $65.90 per troy ounce during the Asian hours on Monday.

WTI Price Forecast: Trades above $75.50 on Iran uncertainty; 200-day SMA holds the key West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on the overnight bounce from the $72.80 region, or the lowest level since early March, and oscillates in a narrow band during the Asian session on Friday.

Author FXStreet

Jun 19, Fri

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on the overnight bounce from the $72.80 region, or the lowest level since early March, and oscillates in a narrow band during the Asian session on Friday.

Popular Symbols