USD/CNH Looks Vulnerable to Potential Further Downside, Charts Show -- Market Talk

Dow Jones2023-11-30

0711 GMT - USD/CNH looks vulnerable to potential further downside, based on technical analysis, says Kelvin Wong, senior market analyst at Oanda, in an email. The currency pair's medium-term downside momentum is still bearish as shown by the latest reading of its daily relative strength index momentum indicator and by trend analysis via the breakdown of its former medium-term ascending channel from the Jan. 16 low, Wong says. A break below near-term support of 7.1200, which is also the 200-day moving average, exposes subsequent medium-term support of 6.9900, Wong adds. USD/CNH is down 0.2% at 7.1319. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 30, 2023 02:11 ET (07:11 GMT)

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A break below near-term support of 7.1200, which is also the 200-day moving average, exposes subsequent medium-term support of 6.9900, Wong adds. USD/CNH is down 0.2% at 7.1319. 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The currency pair's medium-term downside ...</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":"2387629418","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2387629418","pubTimestamp":1701328260,"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":"0711 GMT - USD/CNH looks vulnerable to potential further downside, based on technical analysis, says Kelvin Wong, senior market analyst at Oanda, in an email. 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