USD/CNY Could Rise Toward 6.8900 in a Few Weeks: Citigroup
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- USD/CNY is seen rising toward an area of resistance levels which converge just above 6.8900, technical analysts at Citigroup write in a note received today.
Alert: HALISTER1- Chart patterns suggest that such a level is very achievable and could even be seen in 3-to-4 weeks from now: Citi
- USD/CNY closed yesterday up 0.18% at 6.7775
- USD/CNH up 0.05% to 6.7863, after touching a record high at 6.7880 overnight
- China will continue to keep the yuan rate “basically stable at reasonable and equilibrium level,” PBOC’s Gang writes in an article in People’s Daily; story here
Source: BFW (Bloomberg First Word)
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UUID: 7947283