- USDCNH reversed from key support level 7.0890
- Likely to rise to resistance level 7.145
USDCNH currency pair recently reversed from the support area between the key support level 7.0890 (which stopped the previous impulse wave 1 in the middle of September) and the lower daily Bollinger Band.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star – strong buy signal for USDCNH.
Given the strength of the support level 7.0890, USDCNH can be expected to rise toward the next resistance level 7.145 (former support from July, which stopped earlier waves iv, a and 2).
- Likely to rise to resistance level 7.145
USDCNH currency pair recently reversed from the support area between the key support level 7.0890 (which stopped the previous impulse wave 1 in the middle of September) and the lower daily Bollinger Band.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star – strong buy signal for USDCNH.
Given the strength of the support level 7.0890, USDCNH can be expected to rise toward the next resistance level 7.145 (former support from July, which stopped earlier waves iv, a and 2).
By the FxPro Analyst Team
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.