USD/CNH pair discussion

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Post by tradeforexcopie » Thu Mar 14, 2019 6:44 pm

China's industrial production hits a 17-year low, USD/CNH jumps to 200-hour MA

Offshore yuan (CNH) is losing altitude at press epoch, likely due to below-predict China's factory output data.
USD/CNH has printed session highs above the 200-hour MA, contradicting the bear flag scrutiny stated earlier this week.

USD/CNH, which was mildly bid into lead Asia, outstretched gains to the 200-hour counter to average (MA) in the last 60 minutes regarding the to the fore of a below-forecast China's factory output data.

The world's second-largest economy's industrial production increased 5.3 percent in the first two months of this year, the slowest pace of go ahead in 17 years, missing the forecast of 5.5 percent year-not far away and wide and wide off from the order of-year rise.

Both unqualified-asset investment and retail sales bettered estimates taking into account 6.1 percent and 8.2 percent rise, respectively, but, as a result, far, have fruitless to put a bid below the offshore yuan dispute rate (CNH).

USD/CNH is currently trading at 6.7138, representing a 0.20 percent profit upon the day. The pair clocked session highs above the 200-hour MA of 6.7164 a few minutes back press epoch.

Technically speaking, the pair's 0.20 percent profit has weakened the bearish view put tackle by the flag breakdown stated upon March 12.

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