Amazing how the two fibs fit so well together.
This is a reference to where the bleeding might stop. As noted here by Morgan Stanley, the rebalancing is continuing, and per DB, the assumed breakeven point for the products built on top of USDCNH is at 6.25. Now that we have passed it, there are two simple resistances. Only after conclusive reversal signals (possibly over the span of a month) would I look at selling the pair. Note the rounding top from 3/27 to 4/9 which was invalidated with another run higher.
Studying for CMT Level II… test this Saturday. Wish me luck!
To the best of good buys.
trading and chocolate 