Currency pair US Dollar to Chinese Yuan USD/CNH is trading at 6.7905. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates that there is an bullish trend in the pair US Dollar/Chinese Yuan. The Ichimoku Kinko Hyo Cloud Upper Test is expected near the level of 6.7820, from which it is expected to try to grow and develop the bullish tendency for the pair US Dollar/Chinese Yuan with the first target near the level of 6.8210.
Chinese Yuan forecast USD/CNH on June 15, 2017
Earlier, a medium strength signal was received for buying of the USD/CNH, due to crossing of the signal lines at the level of 6.7744. The cancellation of the growth of the pair’s quotations will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the area of 6.7530, which will indicate a change in the bullish trend in favor of the bearish trend. Expect the acceleration of USD/CNH quotes growth with the breakdown of the local maximum area at the level of 6.8140.