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Chart Of The Day: USD/CNH

Published 03/29/2021, 05:58 PM
Updated 07/09/2023, 06:31 AM
USD/JPY
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USD/CNH
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One of the pairs that we watch when trading USD/JPY is the USD/CNH. And with USD/CNH moving to new highs on the year and to the highest levels since December 2020, maybe this is an indication of further gains of USD/JPY beyond 110.00.

However, you want to use the USD/CNH from a correlation standpoint is up to you. However, this move higher was well telegraphed in January, when new lows in price had a divergent daily RSI. To me, it seems a move back towards the 200-day moving average in the coming weeks seems likely. 

USD/CNH Daily Chart.

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