In recent years, the renminbi paused its attempt to strengthen against the USD. In February 2014, the renminbi found support at 6.0153 as wave ((III)). From there, it formed a perfect zig-zag corrective structure, reaching equal legs at the 7.1964 high in September 2019. Following these three swings, USDCNH was expected to continue its downtrend. […]