The Chinese yuan (CNY) depreciated today against the US dollar (USD) today as traders continued to sell the local currency on account of massive pro-democracy demonstrations in Hong Kong. Through early North American trading, the pair reached an intraday high of CNY 6.1772, its highest level since 16 September.
The Chinese yuan's value is closely monitored by People's Bank of China on account of China's position as a major exporter.
As we can see in this Daily chart below, USD/CNY took out the 6.1633 level along with the 50-day and 200-day moving averages.
In this Weekly chart below, we can see USD/CNY took out some key levels today including 6.1734.
In this Monthly chart below, we can see there is quite a lot of upside including 6.1841, 6.2007, and 6.2102.
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