The currency pair Chinese Yuan USD/CNH is trading at 6.8995. At the moment, the potential for a fall in the pair’s quotations to the area below the level of 6.83 remains within the framework of the beginning of the development of the descending Woolf wave model. Quotations were able to test the area of the swat area and have now returned to the inside of the bearish model.
USD/CNH Forecast Chinese Yuan on April 13, 2017
In favor of falling USD/CNH quotes, a breakdown of the upward trend line will occur, indicating that it falls into the local minimum area. The cancellation of the variant of the pair price reduction will result in a strong growth and breakdown of the area of 6.92, which will indicate the continued growth of the pair.
Among the important news from China, which can have an impact on the USD/CNH rate is worth highlighting, the balance of the balance of foreign trade.
USD/CNH Forecast Chinese Yuan on April 13, 2017 suggests an attempt to fall as part of the start-up of the bearish wave model of Woolf with the potential target of a fall near the area of 6.83, with the breakdown of the area being 6.92.