USD/CNH weighs on support
USD/CNH’s decline from its CN¥7.3681 one-year high, amid a depreciating greenback and as China’s government once more tries to shore up its battered property sector, has taken the cross to the 200-day SMA at CN¥7.1325 which offered support throughout this week.
Were it and this week’s low at CN¥7.1286 to be slipped through, the mid-June and July lows at CN¥7.1160 to CN¥7.1041 may offer support.
Immediate downside pressure will remain dominant as long as Wednesday’s high at CN¥7.1757 isn’t bettered on a daily chart closing basis.
https://news.google.com/rss/articles/CBMidWh0dHBzOi8vd3d3LmlnLmNvbS9lbi1jaC9uZXdzLWFuZC10cmFkZS1pZGVhcy9ldXItdXNkLXN0YXlzLWJpZC13aGlsZS1ldXItZ2JwLXN0YWJpbGl6ZXMtYW5kLXVzZC1jbmgtcmVtYWlucy11LTIzMTEyM9IBAA?oc=5
2023-11-23 10:19:49Z
CBMidWh0dHBzOi8vd3d3LmlnLmNvbS9lbi1jaC9uZXdzLWFuZC10cmFkZS1pZGVhcy9ldXItdXNkLXN0YXlzLWJpZC13aGlsZS1ldXItZ2JwLXN0YWJpbGl6ZXMtYW5kLXVzZC1jbmgtcmVtYWlucy11LTIzMTEyM9IBAA
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