| Technicals

Become a contributor

Bookmark Econotimes

| Technicals

Bank of Korea likely to keep key interest rate on hold at 0.50 pct in November

Malaysian headline inflation falls further in October, likely to remain negative in 2020

United States building permits

Pound Under Siege: GBPJPY Eyes Critical Support Amid Geopolitical Turmoil

FxWirePro: EUR/NZD recovers some ground but outlook is bearish

Swedish economic sentiment indicator rises in November

FxWirePro- Major Crypto levels and bias summary

U.S. personal income and spending rose less than expected in August

FxWirePro- Major Crypto levels and bias summary

Bitcoin Surges Past USD 70,000 as Trump Signals De-escalation in US-Iran Conflict

FxWirePro- Major Pair levels and bias summary

Bank Indonesia keeps key interest rate on hold at 3.75 pct

Canadian inflation continues to ease, moving closer to the Bank of Canada's target

FxWirePro: USD/CNY rises as geopolitical risks drive dollar strength

FxWirePro: GBP/USD continues to respect 50%fib resistance level

FxWirePro: EUR/AUD gains some upside momentum but still bearish

FxWirePro- Woodies Pivot(Major)

Renminbi Series

©Econometrics LLC . All Rights Reserved.

Chinese yuan rises gradually against U.S. dollar, stay short

Friday, January 10, 2020 5:56 AM UTC

USD/CNY is currently trading around 6.9286 marks.
It made intraday high at 6.9492 and low at 6.9274 levels.
Intraday bias remains bearish till the time pair holds key resistance at 6.9540 mark.
A sustained close above 6.93 marks will test key resistances at 6.9540, 6.97, 6.9867, 6.9957, 7.0168, 7.0388, 7.07 and 7.0920 marks respectively.
Alternatively, a daily close below 6.93 will drag the parity down towards key supports at 6.9210, 6.9013, 6.88 and 6.8662 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position on USD/CNY around 6.9300, stop loss at 6.95 and target of 6.9210/6.9013/6.88.

Editor's Picks

Breathing through your nose when you exercise may make your runs easier

Entrepreneurs are facing a mental health crisis — here's how to help them

Are fish oil supplements as healthy as we think? And is eating fish better?

Will AI kill our creativity? It could – if we don’t start to value and protect the traits that make us human

Does AI have a right to free speech? Only if it supports our right to free thought

How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?

Why we need to set limits on sperm donation

Aging with a healthy brain: How lifestyle changes could help prevent up to 40% of dementia cases

Seven techniques to avoid weight regain, approved by experts

Market Data

Elliott Investment Management Takes Multibillion-Dollar Stake in Synopsys

TSA Absences Surge During Government Shutdown as ICE Agents Prepare Airport Deployment

Ukraine-U.S. Peace Talks Continue in Florida as Zelenskiy Pushes for Diplomatic Progress

Trump Links DHS Funding to Voter ID Legislation

Iran Threatens Gulf Infrastructure as U.S.-Israel War Enters Critical 48-Hour Window

Gold Prices Drop Amid Inflation Fears and U.S.-Iran Escalation

Cuba-U.S. Military Tensions: Havana Warns It Is Ready to Defend Itself Against Potential American Aggression

U.S. Appeals Court Strikes Down FTC Order Against TurboTax "Free" Advertising

Oil Prices Hold Steady Amid Middle East Escalation and Sanctions Relief

EconoTimes

Disclaimer: EconoTimes provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and EconoTimes specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Brokerage. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. EconoTimes expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.

Renminbi Series

Chinese yuan rises gradually against U.S. dollar, stay short

Editor's Picks

Welcome to EconoTimes