(VIANEWS) – USD/CNH (USDCNH) has been up by 3.33% for the last 21 sessions. At 22:08 EST on Thursday, 30 March, USD/CNH (USDCNH) is $6.85.
USD/CNH’s yearly highs and lows, it’s 0.183% up from its 52-week low and 0.342% 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 overbought (>=80).
- Eur/usd: rally to run out of steam as the pair moves toward the 1.1000 level – MUFG. According to FXStreet on Wednesday, 29 March, "Nonetheless, economists at MUFG Bank expect the EUR/USD rally to fade as the pair nears the 1.10 mark.", "Without further banking sector turmoil, data flow will dictate the sustainability of that degree of divergence in policy expectations and based on the consumer confidence data there is a greater risk of that divergence closing which could see EUR/USD again run out of steam as we move toward the 1.1000 level."
- According to FXStreet on Wednesday, 29 March, "Together with the Hungarian Forint, the Koruna has the highest beta against the global story and higher EUR/USD and low energy prices are playing into its hands. "
- Eur/usd price analysis: snaps two-day winning streak as bears approach 1.0800 key support. According to FXStreet on Wednesday, 29 March, "It should be noted, however, that a convergence of the 21-SMA, horizontal line from late January and a two-week-old ascending trend line together highlight the 1.0800 as a tough nut to crack for the EUR/USD bears.", "Alternatively, a clear upside break of the recent top surrounding 1.0850 becomes necessary for the EUR/USD buyers to return to the table."
- Eur/usd: forecast for the end of 2023 lowered to 1.10 from 1.12 – ABN amro. According to FXStreet on Wednesday, 29 March, "As we pushed out most of the Fed rate cuts to 2024, we think there is less upside in EUR/USD in the near-term. ", "Therefore, we lower our EUR/USD forecast for the end of 2023 to 1.10 from 1.12."
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