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- USD/CNH: Failure to hold 6.3300 can lead to next leg of downtrend – SocGen
USD/CNH: Failure to hold 6.3300 can lead to next leg of downtrend – SocGen
USD/CNH is trading near 6.33, a double bottom. Failure at this point can lead to next leg of downtrend, according to economists at Société Générale.
6.3300 is a crucial support
“USD/CNH has formed a double bottom near 6.3300 however a break past the neckline at 6.4000 will be essential for affirming an extended up-move.”
“Failure to hold 6.3300 can lead to next leg of downtrend.”
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