Offshore Yuan rises to highest level since January 23

• Offshore Yuan (USD/CNH) jumps above 6.4 for the first time since January 23.
• USD/CNY has run into a long-term descending trendline resistance.

The offshore Yuan or USD/CNY rose to 6.4081 on Tuesday - the highest level since June 23.

As of writing, the currency pair is trading at 6.4060 and is looking to cross the long-term falling trendline (drawn from June 2017 high and December 2017 high) in a convincing manner.

USD/CNH weekly chart