USD/CNHLong
USDCHN Could Fly to 6.5000 or 6.8000 by 2023
Global View:
"U.S. and Chinese Bond Yields Converge, Reversing a Decadelong Pattern: China’s formerly large yield advantage has disappeared" (WSJ: wsj.com/articles/u-s-and-chinese-bond-yields-converge-reversing-a-decadelong-pattern-11649843175?mod=rss_markets_main )
"Capital outflows from China are expected to continue in coming weeks after an exodus of foreign funds from Chinese sovereign bonds in March, experts said, as the country’s yield advantage over US Treasuries disappeared for the first time since 2010." (SCMP: scmp.com/economy/china-economy/article/3173996/chinese-debt-sell-likely-continue-yield-advantage-over-us )
tradingeconomics.com/china/currency
Technicals:
C&H or IHS with Volume Confirmation
Projection:
6.5000, 6.6500 and 6.8000
"U.S. and Chinese Bond Yields Converge, Reversing a Decadelong Pattern: China’s formerly large yield advantage has disappeared" (WSJ: wsj.com/articles/u-s-and-chinese-bond-yields-converge-reversing-a-decadelong-pattern-11649843175?mod=rss_markets_main )
"Capital outflows from China are expected to continue in coming weeks after an exodus of foreign funds from Chinese sovereign bonds in March, experts said, as the country’s yield advantage over US Treasuries disappeared for the first time since 2010." (SCMP: scmp.com/economy/china-economy/article/3173996/chinese-debt-sell-likely-continue-yield-advantage-over-us )
tradingeconomics.com/china/currency
Technicals:
C&H or IHS with Volume Confirmation
Projection:
6.5000, 6.6500 and 6.8000
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