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

Economic Indicator

USD/CNH: Attempt to slow pace of depreciation – OCBC

Source Fxstreet

For the second day in a row, CNY fix came in much stronger than expected. USD/CNH was last at 7.2596, OCBC’s FX analysts Frances Cheung and Christopher Wong note.

Bullish momentum on daily chart

“Policymakers attempt to convey a message that recent spot USD/CNH move is close to testing policymakers' threshold of tolerance for CNH weakness.

“On one hand, the strong fix 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 7.2750 levels. Support at 7.22, 7.20 (200 DMA).”

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

Recommended Articles

Microstrategy outperforms Warren Buffet’s Berkshire Hathaway by the largest margin since the dot-com bubble Michael Saylor’s Microstrategy is outperforming Warren Buffet’s Berkshire Hathaway by the largest margin. The software company has surged by 2,295.74% since August, when it first bought its Bitcoin holdings, while Berkshire Hathaway has surged by 36.02% in the same duration.

Author Cryptopolitan

Nov 18, 2024

Michael Saylor’s Microstrategy is outperforming Warren Buffet’s Berkshire Hathaway by the largest margin. The software company has surged by 2,295.74% since August, when it first bought its Bitcoin holdings, while Berkshire Hathaway has surged by 36.02% in the same duration.

Bitcoin Eyes $124,000 As Golden Ratio Signals More Gains Ahead – Details Prominent crypto analyst Burak Kesmeci has tipped Bitcoin (BTC) to hit a price target of $124,000 based on data from the Golden Ratio Multiplier price model.

Author FXStreet

Apr 28, 2025

Prominent crypto analyst Burak Kesmeci has tipped Bitcoin (BTC) to hit a price target of $124,000 based on data from the Golden Ratio Multiplier price model.

Silver Price Forecast: XAG/USD marks fresh 14-year highs near $41.00 Silver price (XAG/USD) following its six-day winning streak, trading around $40.98 per troy ounce on Wednesday, the highest since September 2011.

Author FXStreet

Sep 03, 2025

Silver price (XAG/USD) following its six-day winning streak, trading around $40.98 per troy ounce on Wednesday, the highest since September 2011.

Japanese Yen rises on strong data, USD pressured by Fed rate cut bets ahead of US NFP The Japanese Yen (JPY) strengthened against its American counterpart during the Asian session on Friday in response to upbeat domestic data.

Author FXStreet

Sep 05, 2025

The Japanese Yen (JPY) strengthened against its American counterpart during the Asian session on Friday in response to upbeat domestic data.

Gold gains momentum above $4,100 after weak US NFP data Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls ‌(NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.

Author FXStreet

Jul 03, Fri

Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls ‌(NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.

Popular Symbols