USDCNH

(Last Updated November 26, 2020)

Welcome to the news page for USDCNH (USDCNH). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

On USDCNH, there is currently a downtrend on the 90, 30 and 14 day timeframes.

USDCNH Moving Averages

USDCNH’s moving averages suggest the trend on a number of time horizons is bearish.

Below is a chart showing USDCNH’s price with its moving averages.

As for assets in the Forex asset class USDCNH has been correlated to over the past week, it has been most correlated with EURCAD. Over the past 14 days, however, AUDCAD is the asset most correlated to USDCNH. On the flip side, EURUSD has been the asset least correlated with USDCNH — but over the past two weeks, GBPJPY has been the asset least correlated with USDCNH. The chart below illustrates USDCNH against its least correlated assets.

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The View From the Weekly Timeframe

Currently, USDCNH’s rate is up 0.0117 (0.18%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDCNH. Given that we see downtrend on the 20 and 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. USDCNH’s weekly price action over the past 52 weeks can be seen via the chart below.

USDCNH: The Monthly View

Strongest trend on the 120 month timeframe.