In general, the drop we can see from the USDCNY since the start of 2017 has followed along with the fall off in the USD. Keeping an eye on the USD could offer some clues as to what to expect from the USDCNY.

A low was reached in Feb 2018; the market bounced and has been consolidating.   Solid orange highlights the significant technicals currently bounding the consolidation, breaking these offers potential opportunities.  Dropping past the lows of the consolidation could indicate a continuation of the larger trend down. Breaking up through the blue s/r zone and the weekly (blue) long term trend channel (starts 2017 highs), could represent a potential reversal for the market.

Looking at the daily chart (right) we can see a couple of shorter term or riskier technical considerations represented as dashed orange highlights.  A green channel can be seen to have developed so far: breaking up past recent highs could see a continuation of the channel; dropping past recent lows would have the market moving past the channels support.  These shorter term opportunities are considered riskier as the market could hold at the solid orange highlighted technicals and continue to bounce between them.