USD/CNH's Pullback Has Likely Started, Charts Show -- Market Talk

Dow Jones2023-11-17

0722 GMT - USD/CNH's pullback has likely started, based on technical charts, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research, in a research note. This week, USD/CNH broke clearly below key support at the bottom of the daily Ichimoku cloud, the strategist notes. However, there's only a modest increase in the currency pair's downward momentum and it's unclear at this juncture whether USD/CNH can break below psychological support at 7.2000, the strategist says. To maintain downward momentum, the currency pair must remain below 7.2900, the cross-over level of 21-day and 55-day exponential moving averages, the strategist adds. USD/CNH is up 0.1% at 7.2519. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 17, 2023 02:22 ET (07:22 GMT)

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To maintain downward momentum, the currency pair must remain below 7.2900, the cross-over level of 21-day and 55-day exponential moving averages, the strategist adds. USD/CNH is up 0.1% at 7.2519. 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This week, USD/...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"USD","symbol_name":"ProShares Ultra Semiconductors","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2384333790","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2384333790","pubTimestamp":1700205720,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0722 GMT - USD/CNH's pullback has likely started, based on technical charts, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research, in a research note. This week, USD/CNH broke clearly below key support at the bottom of the daily Ichimoku cloud, the strategist notes. However, there's only a modest increase in the currency pair's downward momentum and it's unclear at this juncture whether USD/CNH can break below psychological support at 7.2000, the strategist says. To maintain downward momentum, the currency pair must remain below 7.2900, the cross-over level of 21-day and 55-day exponential moving averages, the strategist adds. USD/CNH is up 0.1% at 7.2519. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"USD":"ProShares Ultra Semiconductors"},"translate_title":"图表显示，美元兑CNH的回调可能已经开始——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"USD":1,"USDCNH.FOREX":1},"content_text":"0722 GMT - USD/CNH's pullback has likely started, based on technical charts, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research, in a research note. This week, USD/CNH broke clearly below key support at the bottom of the daily Ichimoku cloud, the strategist notes. However, there's only a modest increase in the currency pair's downward momentum and it's unclear at this juncture whether USD/CNH can break below psychological support at 7.2000, the strategist says. To maintain downward momentum, the currency pair must remain below 7.2900, the cross-over level of 21-day and 55-day exponential moving averages, the strategist adds. 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