The USD/CNH currency pair is currently under significant downward pressure after failing to breach the 50-day moving average at 7.12. Analysts at Société Générale indicate that this inability to clear the key resistance level may trigger further declines. Should the critical support level at 7.08 crumble, the exchange rate could potentially drop to a range between 7.05 and 7.01.
Market sentiment reflects caution as traders monitor these technical levels closely. The struggle of the USD against the Chinese yuan highlights broader market dynamics and could signal shifting trends in forex trading strategies. As the situation develops, the ability of USD/CNH to maintain above 7.08 will be crucial in determining the next direction for this currency pair.
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Data Source: FX Killer Analysis Team Updated: 2025-11-25 09:22
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.