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USD/CNH Bullish By 1% In The Last 21 Sessions

ViaNews Editorial Team

August 29, 2023

USD/CNH Bullish By 1% In The Last 21 Sessions

(VIANEWS) - USD/CNH (USDCNH) has been up by 1.51% for the last 21 sessions. At 17:06 EST on Tuesday, 29 August, USD/CNH (USDCNH) is $7.28.

Usd/cnh price analysis: traders seem non-committed, 7.2700 holds the key for bulls

The People's Bank of China (PBoC) has been persistently setting stronger-than-expected daily-mid-points for the Chinese Yuan, which, along with a modest US Dollar (USD) weakness, act as a headwind for the USD/CNH pair. , From a technical perspective, the USD/CNH pair has been showing some resilience below the 7.2700 round figure since early last week.

USD/CNH's yearly highs and lows, it's 0.022% up from its 52-week low and 0.402% down from its 52-week high.

Previous days news about USD/CNH (USDCNH)

  • Usd/cnh price analysis: Yuan buyers flex muscles around 7.2800 on China stimulus. According to FXStreet on Monday, 28 August, "Technically, the pair's downbeat break of a one-month-old previous support line joins the repeated failures to cross the 10-DMA immediate hurdle to keep the USD/CNH bears hopeful.", "On the contrary, a daily closing beyond the 10-DMA level surrounding 7.3020 can propel the USD/CNH price towards the five-month-old support-turned-resistance line of near 7.3160."

More news about USD/CNH (USDCNH).

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ViaNews Editorial Team

Via News Editorial Team delivers comprehensive financial news coverage and market analysis from journalists around the world. Our team specializes in data journalism and in-depth reporting on stock markets, business developments, and economic trends.

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