The US Dollar’s movements against the Chinese one currency have not been mapped for some time, because some consider them rather boring. The bottom line about the pair is that the US Dollar is losing value against the Yuan.
However, the movements of various timeframes can be mapped in various scale patterns. Moreover, it can be observed that the currency exchange rate has a rather notable tendency to respect Fibonacci retracement lines.
In regards to the near term future, the pair is either set to trade sideways or decline. The reason for such assumption is the fact that the pair has fallen below a very strong resistance cluster, which is located from 6.28 to 6.29 levels.
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