USDCNH on the Daily timeframe. After experiencing a significant decline last month and bringing the pair down deep through R1 to the price position of 7.14154. However, the pair is now trying to initiate a comeback after previously moving sideways. Experiencing a bullish trend at the end of last week, this pair tried to rise towards R1 and now occupies the price position of 7.19609. If this pair is able to continue the bullish trend then go-long can be an option for traders. However, if there is one factor that causes the trend to reverse to bearish then go-short is an option. Keep an eye on the market movements and consider all possibilities before making a trading decision.
