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USD/CNH halts ahead of support below 6.1900

  • Pair dropped to a fresh 6.1940 low, but profit taking kicked in soon

  • 6 days of lower highs & lows leaves 5, 10 & 22 dma's moving downwards

  • Momentum studies are neutral, suggest bearish setup - weekly 5 & 10 ma's crest

  • Key support at 6.1840/90 - 61.8% of Oct/Mar rise & 2015 low

  • Initial support/resistance  seen at earlier 6.1940 low & 6.2197 falling 5dma 

 

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