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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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August 18 12:30 UTC Released

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1.4 %

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Previous

1.4 %

August 18 12:30 UTC Released

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1.3 %

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1.2 %

August 18 14:00 UTC 8888m

USCPI BoC Core MM

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94.0 %

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93.4 %

August 18 14:00 UTC 8888m

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113.3 %

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113.4 %

August 18 14:00 UTC 8888m

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81.0 %

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80.5 %

August 18 14:00 UTC 8888m

USCPI Median

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2.6 %

August 18 14:00 UTC 8888m

USCPI Trim

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2.6 %

August 18 14:00 UTC 8888m

KRU Mich Conditions Prelim

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113.3 %

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113.4 %

August 18 14:00 UTC 8888m

KRU Mich Expectations Prelim

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81.0 %

Previous

80.5 %

August 18 14:00 UTC 8888m

GBPSNB Ex Banks GBP

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Forecast

Previous

2.6 bln GBP

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