(VIANEWS) - USD/CNH (USDCNH) has been up by 2.49% for the last 21 sessions. At 16:09 EST on Thursday, 18 May, USD/CNH (USDCNH) is $7.05.
USD/CNH's yearly highs and lows, it's 0.644% up from its 52-week low and 0.154% down from its 52-week high.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, USD/CNH's Forex is considered to be oversold (<=20).
Previous days news about USD/CNH (USDCNH)
- Usd/cnh remains firmer past 6.9600 amid cautious mood, mixed China data. According to FXStreet on Tuesday, 16 May, "However, the latest comments from United States House Speaker Kevin McCarthy saying, "I don't think we're in a good place," also seem to weigh on the USD/CNH price, via fears of deadlock on the US debt ceiling extension as Republicans may stick to their demand.", "Also fueling the USD/CNH buyers could be the mixed sentiment and the US Dollar's pause in the previous retreat."
- Usd/cnh will set slightly higher at a rate of 7 – rabobank. According to FXStreet on Tuesday, 16 May, "Therefore, we include again our earlier expectation of slightly lower interest rates which we argue will set USD/CNH slightly higher at a rate of 7."
- Dollar’s bounce can go further if usd/cnh consolidates above 7 – socgen. According to FXStreet on Wednesday, 17 May, "If USD/CNH consolidates above 7 in the next few days, that may well open the way for further downside tests of USD/GBP and EUR/USD (and AUD/USD, for that matter). ", "Meanwhile though, our USD/CNH forecast change also implies a solid gain ahead for CAD/CNH."
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