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20 Nov 2018

USD/CNH Technical Analysis: Has eroded falling trendline on hourly chart

  • The USD/CNH cleared the trendline falling from Nov. 12 highs earlier today, confirming an end of the pullback from the recent high of 6.9694.
  • The pair, however, is having a tough time building on the upside break of the falling trendline. Notably, the 200-hour simple moving average is capping the upside in the pair.
  • Hence, for the bulls to feel emboldened, the pair needs to clear the 200-hour MA hurdle. The bullish view put forward by the upside break of the falling trendline would be invalidated if the pair invalidates the higher lows pattern with a move below 6.93.

Hourly Chart

Trend: Bullish

USD/CNH

Overview:
    Last Price: 6.9369
    Daily change: 58 pips
    Daily change: 0.0837%
    Daily Open: 6.9311
Trends:
    Daily SMA20: 6.9397
    Daily SMA50: 6.9092
    Daily SMA100: 6.8555
    Daily SMA200: 6.6067
Levels:
    Daily High: 6.9398
    Daily Low: 6.9212
    Weekly High: 6.9701
    Weekly Low: 6.9106
    Monthly High: 6.9798
    Monthly Low: 6.8674
    Daily Fibonacci 38.2%: 6.9327
    Daily Fibonacci 61.8%: 6.9283
    Daily Pivot Point S1: 6.9216
    Daily Pivot Point S2: 6.9121
    Daily Pivot Point S3: 6.903
    Daily Pivot Point R1: 6.9402
    Daily Pivot Point R2: 6.9493
    Daily Pivot Point R3: 6.9588

 

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