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Sep 02 - 04:55 AM

EUR/USD - Traders Must Respect The CNH Rally

By Jeremy Boulton  —  Sep 02 - 02:45 AM
  • China's CNH has risen significantly. Beating EUR lately nL1N2FY05Z

  • EUR is a large component of CNH basket. A CNH rise will weigh EUR

  • Today CNH has advanced a further 0.2% to 93.05. Highest since May 19

  • May 12 high @ 93.41 looks key. Was peak ahead drop to 2020 low at 91.04

  • CNH has risen over 92.84 or 38.2% retrace drop from 2020 peak at 95.76

  • 50% same move 93.40. A closing break above will open much topside potential

  • 61.8%/76.4% drop from 2020 high are 93.96 and 94.65


CNH TWI Click here

Source:
Refinitiv IFR Research/Market Commentary

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