USD/CNH 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Buy
Stochastic (5; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The US Dollar has been plummeting against the Chinese Yuan during the second half of August. However, it seems that the decline of the Buck against the Yuan has ended.

The currency exchange rate has met the support of a rather week long term descending channel pattern near the 6.5240 mark. It is possible that the trend line managed to hold its ground because of the weekly S1, which is located at that level.  

Since then the pair has managed to score gains and reach the 6.56 mark, and it is expected to continue the surge. However, politics are more likely to set the exchange rate.

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