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FxWirePro: USD/CNY outlook weaker on renewed downside pressure

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AUD/CNH Fibo resistance pressured

Wednesday, February 18, 2015 5:50 AM UTC

Closed above 4.8883 20 dma - break sustained in Asia - 4.9151 Fibo limits
Chinese New Year holiday & lack of AUD data denotes a slow session in Asia
Bounce leaves 5, 10 & 20 dma's conflicting - positive momentum studies
Neutral setup - 4.9150+ close targets 50% of 2015 fall at 4.9587
Asian initial support/resistance is 4.8954/4.9176 range

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AUD/CNH Fibo resistance pressured

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