USD/CNH 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/CNH had attempted to form a volatile channel down pattern, but rather went through a consolidation phase to enter a channel up pattern. The pair is currently testing the bottom boundary of the pattern at 6.8443 and there is decent potential for it to break below. Supply pressures stem from the repeated test of the lower trend-line after a reach towards the upper line was cut by the 200-hour SMA. Alternatively, the rate could follow along the newly sketched channel lines, meaning that the dip could be cut at 8.8384 already.
© Dukascopy Bank SA
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Fri, 20 Jan 2017 16:10:49 GMT

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Fri, 20 Jan 2017 09:08:33 GMT

ZAR/JPY 1H chart: Channel Up

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