EconomicsGlobal
Long

USDCNY Blown Out and Moving Higher

FX_IDC:USDCNY   U.S. Dollar / Chinese Yuan
As the trade tension heats up between the US and China, global traders have been putting pressure on the USDCNY .

On a technical basis,the RSI and MACD are strongly trending higher, indicating strong momentum higher for the USDCNY . Further, with the ADX firmly in trend, there are no signs of the rally in USDCNY slowing down.

If trade talks worsen or even fall apart, expect the USDCNY to move to 6.92.
Comment: We'ere almost there
Comment: As the trade tensions continue to ratchet up between the two economic giants, the USDCNY continues to rocket. Our original price target of USDCNY 6.92 is almost hit, and out next forecast USDCNY 7.01
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