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HomeForex NewsUSDCNY keeps grinding towards previous intervention levels around 7.37

USDCNY keeps grinding towards previous intervention levels around 7.37

The USDCNY is approaching the previous max pain level around 7.37 where the PBoC intervened in 2023 so worth keeping that level marked up.

The PBoC continuously adjusted the mid-point weaker in recent sessions with yesterday seeing the weakest setting since Nov 2023.

USDCNY not too far from previous max pain level for the PBoC

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