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

Who Can Challenge TSMC? Q1 Net Profit Jumps 58% Year-on-Year, AI Demand Becomes Biggest Driver On April 16, TSMC ( TSM) reported its first-quarter 2026 financial results, with core financial metrics exceeding market expectations across the board and profitability achieving a breakt

Author TradingKey

8 hours ago

On April 16, TSMC ( TSM) reported its first-quarter 2026 financial results, with core financial metrics exceeding market expectations across the board and profitability achieving a breakt

AUD/USD climbs above 0.7170 as truce hopes lift risk appetite The Australian Dollar extended its gains on Wednesday, up by 0.72% as risk appetite improved amid speculation of a de-escalation of the conflict, keeping oil prices in check as WTI held above $91, despite posting losses of nearly 0.80%. At the time of writing, the AUD/USD trades at 0.7173.

Author TradingKey

17 hours ago

The Australian Dollar extended its gains on Wednesday, up by 0.72% as risk appetite improved amid speculation of a de-escalation of the conflict, keeping oil prices in check as WTI held above $91, despite posting losses of nearly 0.80%. At the time of writing, the AUD/USD trades at 0.7173.

Nasdaq Index Rises for 10 Straight Days, Why Has Tesla Barely Risen?On April 14, the Nasdaq notched its tenth consecutive session of gains, marking its longest winning streak since 2023. It has risen nearly 14% from its recent lows, as the 'Magnificent Se

Author TradingKey

Yesterday 10: 25

On April 14, the Nasdaq notched its tenth consecutive session of gains, marking its longest winning streak since 2023. It has risen nearly 14% from its recent lows, as the 'Magnificent Se

Gold eases from four-week top as Hormuz risks temper USD weakness Gold (XAU/USD) hits a nearly four-week high during the Asian session on Wednesday, though it lacks follow-through buying and currently trades just below the $4,850 level, nearly unchanged for the day.

Author FXStreet

Yesterday 07: 33

Gold (XAU/USD) hits a nearly four-week high during the Asian session on Wednesday, though it lacks follow-through buying and currently trades just below the $4,850 level, nearly unchanged for the day.

Silver Price Forecasts: XAG/USD approaches $78.00 boosted by Iran peace hopes Silver (XAG/USD) is rushing higher on Tuesday, reaching fresh two-week highs right below $78.00 at the time of writing, after bouncing from lows around $72.60 on Monday.

Author TradingKey

Apr 14, Tue

Silver (XAG/USD) is rushing higher on Tuesday, reaching fresh two-week highs right below $78.00 at the time of writing, after bouncing from lows around $72.60 on Monday.

Popular Symbols