USD/CNH stalls below 50-DMA – Société Générale
USD/CNH remains capped by the 50-day moving average at 7.12 and is now testing the lower edge of its range near 7.08, with failure to break higher opening the door to declines toward 7.05 and 7.02/7.01, Société Générale's FX analysts note.

USD/CNH remains capped by the 50-day moving average at 7.12 and is now testing the lower edge of its range near 7.08, with failure to break higher opening the door to declines toward 7.05 and 7.02/7.01, Société Générale's FX analysts note.

USD/CNH risks drop toward 7.05 and 7.02

"USD/CNH has consistently struggled to overcome the 50-DMA in recent rebound attempt highlighting a lack of steady upward momentum. It is at the lower limit of recent range at 7.08."

"A brief up move cannot be ruled out however inability to cross the moving average at 7.12 may lead to continuation in decline. Below 7.08, the next objectives could be located at projections of 7.05 and 7.02/7.01."

Acuity Trading
Trade The World
Acuity Trading is a London-based fintech company founded in 2013 that specializes in AI-powered alternative data and sentiment analysis for trading and investments. They revolutionized the online trading experience by introducing visual news and sentiment tools, and today they continue to lead the fintech market with alpha-generating alternative data and highly engaging trading tools using the latest AI research and technology.
Read More

LIVE QUOTES

Name / Symbol
Chart
% Change / Price
GBPUSD
1 D change
+0%
0
EURUSD
1 D change
+0%
0
USDJPY
1 D change
+0%
0

ALL ABOUT FOREX

Explore More Tools
Trading Academy
Browse a wide range of educational articles covering trading strategies, market insights, and financial fundamentals, all in one place.
Learn More
Courses
Explore structured trading courses designed to support your growth at every stage of your trading journey.
Learn More
Webinar
Join live and on-demand webinars to gain real-time market insights and trading strategies from industry experts.
Learn More