USD/CNH Tehnical Analysis: 4H 200MA is the level to beat for the bulls

The USD/CNH pair is currently trading at 6.7318 - up 0.87 percent from the recent low of 6.6733. The recovery has neutralized the immediate bearish setup. A bullish reversal, however, would be confirmed only above the 200-candle moving average (MA) on the 4-hour chart, currently at 6.7441. 

4-hour chart

Since the end of December, the pair has created bearish lower highs along the 200-candle MA. So, a bullish higher high above the 200-candle MA hurdle is needed to confirm a short-term bullish reversal. 

A convincing break above that key average would open up upside toward 6.80. 

Trend: Bullish above 4H 200MA