Risks remain to the topside for USDCNH

Here we are tracking a break of the recent consolidation in the channel after the break of 7. A daily close above the red trend line will trigger the flows naturally towards the channel top at 7.164x.

To the downside all pullbacks towards previous resistance will attract buying interest along with the ascending channel base expected to attract bids. Highly recommend viewing pullbacks as a buying opportunity with a target of 7.150x.

Best of luck all those trading USDCNH

Trade closed: target reached:

A simple break.