USDCNH may be due for a correction towards 6.60.
The Yuan has weakened to 6.70 per dollar and the pair appears overbought on a weekly and daily basis. Having failed to provide a confirmatory close above this key level, we may see a correction towards the 38% Fibonacci retracement level standing at 6.6056
In the meantime, the highly correlated Dim Sum bond ETF...
