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USD/CNH intraday: below its lower Bollinger band

2024-04-05
575

Our pivot point stands at 7.2524.

Our preference: the downside prevails as long as 7.2524 is resistance.

Alternative scenario: above 7.2524, look for 7.2604 and 7.2652.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 7.2478 and 7.2515). Finally, the USD/CNH has penetrated its lower Bollinger band (7.2451).

Supports and resistances:

7.2652 **

7.2604 *

7.2524 **

7.2493

7.2449 last

7.2349

7.2301 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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