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CNY undervalued? - Westpac

FXStreet (Guatemala) - Analysts at Westpac noted that the US Treasury's semi-annual FX report included a view that CNY is "below" medium term valuation rather than "significantly undervalued" as of the April report.

Key Quotes:

"Overall then, the US Treasury report concedes that CNY is less obviously overvalued than in April but is reserving judgement on the PBoC’s new approach to the daily USD/CNY fixing. The US remains unhappy about the lack of transparency on FX intervention in China, Korea and Taiwan but sounds more concerned about the latter two"

EUR/USD lacking directional strength - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that EUR/USD advanced up to 1.1386 in the European session, following a positive opening in local share markets, although the pair faded alongside with stocks, which closed the day pretty much flat, a few points below Monday's close.
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EUR/USD closing below hourly MA's cluster

EUR/USD closed the US session with a modest drift to the downside on underlying dollar strength and below the 20 SMA on the hourly time frame having lost its footing above the 200 SMA on an earlier drift to the upside where the high was made at 1.1386 overnight.
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