The Chinese yuan rose to one-week highs on Monday, fueled by expectations that Shanghai, the country’s financial hub, will soon emerge from a two-month lockdown that has crippled economic activities in the city and weighed on the country’s overall economic recovery.
The CNY traded at 0.1504 against the greenback on Monday, recovering further from an over one-week...
HSI is approaching its support at 28788.6 (61.8% Fibonacci extension , 61.8% Fibonacci retracement , horizontal overlap support) where it could potentially bounce to its resistance at 29422.9 (50% Fibonacci retracement , horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support where a corresponding bounce could occur.
