USD/CNH 4 Hour Price Update
Updated April 02, 2020 05:06 AM GMT (01:06 AM EST)
USD/CNH is up 137 pips (0.19%) since the previous 4 hours (opening the current 4 hour candle near 7.1268), marking the 4th candle in a row it has gone up. Relative to other instruments in the Forex asset class, USD/CNH ranked 2nd the previous 4 hours in terms of percentage price change.
USD/CNH End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of USD/CNH continues; to start today, it came in at a price of 7.12277, up 301 pips (0.42%) since yesterday. Relative to other instruments in the Forex asset class, USD/CNH ranked 4th yesterday in terms of percentage price change. The price chart of USD/CNH below illustrates.
USD/CNH Technical Analysis
Coming into today the current price of USD/CNH is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 732.8 pips away. For additional context, note that price has gone up 7 out of the past 14 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for USDCNH; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Sell – 4H/1HM top on the trend line