USDCNY is testing support (7.07-.08)

3 Jun 2020

3/Jun/2020:
If support zone (7.07-7.08) is good,
upper resistance zone, see (7.15~7.16),
which has two symmetries, one 0.618.

Next support zone, see (7.03-7.04).

4 Jun 2020

Nota

From the 7.08 low, USDCNH goes up well. Now in 1h chart, 8/34 EMA crosses up, which is a sign of Long.

6 Jun 2020

Nota

Easily blew through downside (7.07-.08) support zone.

I would expect the market to test its (7.03-7.04) support zone, which is much stronger since it is composed of 5 symmetry lines.

11 Jun 2020

Nota

Tested (7.03-7.04) support zone, so far so good. For next move, I would expected to see whether this zone can be hold, and whether 2h 8/34 EMA can cross up.

15 Jun 2020

Nota

15/Jun/2020:
Perfect test and respected at
(7.03-7.04) level.

Upper resistance:
Level 1: (7.099 - 7.105),
Level 2: (7.13 - 7.14).