USD/CNH Technical Analysis: Doji suggests temporary low in place

The USD/CNH pair created a long-legged doji candle yesterday, signaling seller exhaustion/indecision in the market place. That, coupled with the bullish divergence on the hourly and 4-hour chart RSIs indicates a temporary low is likely in place at 6.6874.

That said, a close above the downward sloping 10-day MA, currently at 6.7579, is needed to abort the bearish view.

Daily chart

Hourly chart

Trend: corrective bounce