USDCNH plummeted to a fresh four-month low of 6.9947 earlier today after the strong bearish rally on Monday. The market is in the process to cover some of the losses, approaching the 50.0% Fibonacci retracement level of the up leg from 6.8433 to 7.1944 at 7.0201 again. The momentum indicators are contradicting each other as the RSI is rebounding on the oversold region, while the MACD is declining beneath its trigger line in the near term. Also, the 20- and [..]
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