Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements.
Chinese yuan weakens as risk-on sentiment fades
Information is not investment advice
The trade tensions between the US and China weakened the offshore yuan. USD/CNH has risen above the weekly pivot resistance at 6.8828. At the moments bulls are targeting the next resistance at 6.9221. Such oscillators as Stochastics and RSI show that the market is in the overbought conditions. If bears take over the market, they will pull the pair to the support near the 200-day SMA at 6.8254.
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