Back
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
-636782806116497203.png)
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