(VIANEWS) – USD/CNH (USDCNH) has been up by 1.86% for the last 21 sessions. At 21:10 EST on Wednesday, 16 August, USD/CNH (USDCNH) is $7.35.
USD/CNH’s yearly highs and lows, it’s 0.214% up from its 52-week low and 0.004% 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 refreshes YTD top despite China banks’ defense of Yuan as pboc cuts rates, economic fears grow. According to FXStreet on Tuesday, 15 August, "A daily closing beyond the downward-sloping resistance line from October 2022, now immediate support around 7.2715, directs the USD/CNH bulls toward the previous yearly peak of around 7.3750.", "It should be noted that the comments from US Treasury Secretary Janet Yellen, who turned down fears about the US economy emanating from a likely slowdown in China, appear to favor the sentiment and prod the USD/CNH bulls of late. "
- Usd/cnh price analysis: Yuan licks its wounds at nine-month low near 7.3200 amid China woes. According to FXStreet on Wednesday, 16 August, "That said, the overbought RSI (14) line joins the market’s pre-event consolidation to direct the USD/CNH price towards the previous resistance line stretched from late October 2022, around 7.2680 at the latest. ", "However, the USD/CNH bulls remain hopeful unless the Yuan pair remains within an ascending trend channel comprising multiple levels marked since late February, currently between 7.3950 and 7.1730."
More news about USD/CNH (USDCNH).
