Currency pair US Dollar to Chinese Yuan USD/CNH continues to move in the upward trend. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Chinese Yuan is 6.88. At the moment, we can expect a test of the support level near the 6.85 area, then a rebound and continued growth of the USD/CNH quotes to the area above the 6.92 level.
USD/CNH forecast Chinese Yuan October 4, 2018
In favor of the growth of a pair of US Dollar to Chinese Yuan will make a test of the support line on the indicator of relative strength index (RSI). Cancellation of the growth option of the USD/CNH pair at Forex will be a strong fall and a breakdown of the 6.86 area, which will indicate a breakdown of the support level and a continued decline in the currency pair quotes to the area below the 6.82 level. Expect acceleration of growth of the quotes USD/CNH with the breakdown of the resistance area and closing above the level of 6.90.
USD/CNH forecast Chinese Yuan October 4, 2018 suggests an attempt to test the lower boundary of the bullish channel near the level of 6.85, from which we can expect a rebound and continued growth of the currency pair with a potential target at 6.92, the cancellation of the growth option will be a strong decline and a breakdown of 6.86.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link