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USD/CNH 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
USD/CNH is trading inside of a long-term channel which shows some risks to the downside despite the junior ascending channel that has emerged on the hourly chart. Stickiness of the bottom boundary which coincides with the senior pattern trend-line also shows growing downside risks. The pair will target the lower bound of the pattern around 6.8850/8900, but it is unclear if the slight touch of the upper trend-line will put an end to the up-wave or a more prominent test will be needed. Repeated tests of the channel bottom are most likely to lead to a strong breakout to the downside.
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