SOLID ECN LLC
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Bearish Momentum in USD/CNH Currency Pair
![USDCNH-H4.png](/community/proxy.php?image=https%3A%2F%2Fi.ibb.co%2F2vtw2Kb%2FUSDCNH-H4.png&hash=a88718af31b9f7c99e352ad98cc34827)
Solid ECN – The USD/CNH currency pair is dipping from the 78.6% Fibonacci level at $7.257. The RSI indicator also demonstrates bearish momentum by turning downward, and the awesome oscillator bar has just turned green.
The immediate resistance that paused the robust bullish momentum is at $7.257. If the price remains below this ceiling, the Chinese Yuan will likely erase some recent losses against the U.S. Dollar. Additionally, the USD/CNH price could dip to the 61.8% Fibonacci level at $7.237.
As mentioned above, bulls must push the price beyond the key resistance level for the uptrend to resume.
The immediate resistance that paused the robust bullish momentum is at $7.257. If the price remains below this ceiling, the Chinese Yuan will likely erase some recent losses against the U.S. Dollar. Additionally, the USD/CNH price could dip to the 61.8% Fibonacci level at $7.237.
As mentioned above, bulls must push the price beyond the key resistance level for the uptrend to resume.