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China rate cut on the schedule Monday, 22 August 2022 – yuan levels (support, resistance)

August 22, 2022 by admin 0 Comments

A rate cut is expected today in China:

I’ve marked some levels out on the hourly USC/CNH chart, but I’m sure the technical analysts out there aan do better than me – in the comments please folks.

ps. CNH is the offshore yuan. The onshore yuan, CNY, is subject to People’s Bank of China enforced limits on trading (a band of plus or minus 2% from the reference rate that is set daily) but CNH is not.

USD/CNH looks on target to 7. At least.

This article was originally published by Forexlive.com. Read the original article here.