The Chinese yuan gained against some of its key currency manipulators to kick off the trading week. The yuan is looking to break below the seven mark against the US dollar on news that the central bank is reportedly keeping its monetary stimulus unchanged due to a stronger-than-expected economic recovery. The yuan is also looking to extend its momentum on additional data on Monday. On Friday, Reuters published a report that suggested the Peopleâs […]
Read moreThe Australian dollar versus the United States dollar currency pair conquered the 0.7000 psychological level. But is this truly a bullish victory? Long-term perspective The retracement from the solid support of 0.5516 managed to stabilize above the double resistance area defined by the 0.6306 level and the descending trendline that starts from the 0.7019 high. After this, the bulls headed for their next target, 0.7000, an old but important area, and also a psychological […]
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