USDCNH - one of the most important charts in FX markets

2022년 12월 3일

A key set-up for the radar - we currently see a solid test of the H&S neckline, where a break targets 6.6500 - a move here would be conditional on a moderation in US core CPI (due 13 Dec) and a fed funds terminals rate headed to 4.75% - however, any decline in this cross would lift AUD, NZD and be thematic of outperformance in Chinese equities

Price is breaking down and while we typically see less interest in this cross than a G10 FX pair, it's importance in macro markets cant be overstated.