USD/CNH rising inside impulse waves (iii), 5 and (3)
- USD/CNH rising inside impulse waves (iii), 5 and (3)
- Next buy target – 6.7450
USD/CNH continues to rise inside the 3rd minor impulse wave (iii) of the impulse 5 (which is a part of the sharp intermediate impulse wave (3) from April). The active impulse wave (iii) started earlier this month – when the pair reversed up from the upper trendline of the recently broken sharp daily up channel from April (acting as support now after it was broken).
USD/CNH is likely to rise further to the next buy target at the strong multi-month resistance level 6.7450 (top of the previous primary impulse wave ① and the forecast price for the completion of the active impulse waves 5 and (3)).