News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Fed's Mester: - 'changes in the economy will necessitate the use of nonconventional policy tools more often than in the past'
  • Fed's Mester: - 'the pandemic uncovered vulnerabilities in the nonbank financial sector, in short-term money markets, and in the U.S. Treasury market that need to be addressed'
  • $USDCAD has so far held higher-low support at the zone looked at yday.
  • Fed's Mester: - FOMC increased financial stability risk monitoring as non-conventional polices may create vulnerabilities - banking system resiliency needs reassessing amid low rates
  • It hasn’t even been a week since the FOMC rate decision and crypto markets continue to go through heavy re-pricing in the aftermath. Get your market update from @JStanleyFX here:
  • FX UPDATE: $USD remains higher against most of its major counterparts, with $AUD (-0.32%) taking the biggest hit, while continues to buck the trend $NZD (+0.01%).
  • Cable's rebound has already lost traction - as have most anti-Dollar moves across the board. Which gives first for $GBPUSD, the 100-day moving average or trendline support down at 1.3800?
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.12% Gold: -0.34% Silver: -0.62% View the performance of all markets via
  • 🇺🇸 Existing Home Sales MoM (MAY) Actual: -0.9% Previous: -2.7%
  • 💶 Consumer Confidence Flash (JUN) Actual: -3.3 Expected: -3 Previous: -5.1
USD/CNH Technical Analysis: 6.8 in Sight Ahead of US 3Q GDP

USD/CNH Technical Analysis: 6.8 in Sight Ahead of US 3Q GDP

Oded Shimoni, Junior Currency Analyst

Talking Points:

- Pair keeps pushing higher after breaking resistance at the January 7 top around 6.7584

- 6.8 handle now within touching distance as we approach US 3Q GDP numbers

- Pullback to support might initiate further buying

If you’re looking for trading ideas, check out our Trading Guides Here

The US Dollar keeps printing fresh record highs versus the Chinese Yuan in offshore trade, as the pair now sits within touching distance from what might prove to be an important resistance level at the 6.8 handle.

The pair surged higher after breaking resistance around the 6.7 handle followed by the 2016 January high around 6.7584.

Indeed, momentum still looks strong as we head into today’s key US 3Q GDP numbers, which could prove influential for the pair’s direction in the near term.

As it were, price is now sitting in close proximity to the 6.8 handle, and a break higher seems an important milestone for further gains.

If the pair reverses course, downside moves might still be interpreted as corrective as long as buyers can keep price above the 6.7 level.

The next major resistance levels seem to be the 6.8 handle, and 6.8500 while potential levels of support could be 6.7584 followed by the area below 6.7400 and the 6.7 handle.

USD/CNH Daily Chart: October 28, 2016

USD/CNH Technical Analysis: 6.8 in Sight Ahead of US 3Q GDP

--- Written by Oded Shimoni, Junior Currency Analyst for

To contact Oded Shimoni, e-mail

Follow him on Twitter at @OdedShimoni

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.