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FxWirePro: BTC/CNY takes support near trend line, good to sell on rallies

BTC/CNY is seen trading above on Friday and the pair has broken major support at 7793 (21- day EMA) and declined till 7510 (BTCCHINA). It is currently trading around 7659 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 7772

Kijun-Sen level: 7707 

Major reversal level -6911 (89- day EMA)

Long-term trend remains to be bullish. BTC/CNY has taken support near trend line and any break below targets 7300/7020.

Major resistance is around 7924 (61.8% retracement of 8177 and 7510) and any break above will take the pair till 8000/8275 (88.6% retracement of 8400 and 7310)/ 8400. Short term support is seen at 7510 (trend line joining 6434 and 7310) and any break below will drag the pair till 7310 (Mar 10th 2017 low)/7020.

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2017-03-23 08:00:49
0m

March 23 07:45 UTC Released

FRBusiness Climate

Actual

104 %

Forecast

107 %

Previous

107 %

March 23 07:00 UTC Released

TRConsumer Confidence*

Actual

67.8 %

Forecast

Previous

65.70 %

March 23 09:30 UTC 8080m

GBRetail Sales MM

Actual

Forecast

0.4 %

Previous

-0.3 %

March 23 09:30 UTC 8080m

GBRetail Sales Ex-Fuel MM

Actual

Forecast

0.4 %

Previous

-0.2 %

March 23 09:30 UTC 8080m

GBRetail Sales YY

Actual

Forecast

2.6 %

Previous

1.5 %

March 23 09:30 UTC 8080m

GBRetail Sales Ex-Fuel YY

Actual

Forecast

3.1 %

Previous

2.6 %

March 23 11:00 UTC 170170m

GBCBI Distributive Trades

Actual

Forecast

5 %

Previous

9 %

March 23 12:30 UTC 260260m

USJobless Claims 4-Wk Avg

Actual

Forecast

Previous

237.25 k

March 23 12:30 UTC 260260m

USInitial Jobless Claims

Actual

Forecast

240 k

Previous

241 k

March 23 12:30 UTC 260260m

USContinued Jobless Claims*

Actual

Forecast

2.035 mln

Previous

2.030 mln

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