Chinese fight back
The resistance zone has worked well, and the rising wedge broke down definitely. Now a clear sideways movement is ongoing, so sooner or later the next downside pressure should come and lead the price below the rising trendlines.
Next target lies at 7, 6.85, 6.7 but I forecast more Yuan strengthening to 6.3.
Any trading above 7.2 will open the door in front of the USD bulls and further rising should come.
Next target lies at 7, 6.85, 6.7 but I forecast more Yuan strengthening to 6.3.
Any trading above 7.2 will open the door in front of the USD bulls and further rising should come.
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