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RMB: narrow range consolidation
2022-07-07
1032
Fundamental analysis:
The USD / RMB remained volatile around 6.71279. The people's Bank of China today conducted a 7-day reverse repo of 3 billion yuan, and the bid winning interest rate was 2.10%, unchanged from the previous period. Today, 100 billion yuan of reverse repurchase is due.
USD and RMB usdcnh - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, it has remained in the narrow range of the Bollinger belt index channel for a long time, tangled in the middle and upper rail interval consolidation, and the Bollinger belt index shows a slow closing trend. The MACD index hovers on the upper side of the 0 axis, and the RSI index is in the 50 balanced online weak consolidation;
Long short turning point: 6.70564
Pressing position: 6.72430, 6.73535
Support position: 6.69493, 6.68318
Trading strategy: bullish above 6.70564, target 6.72430, 6.73535
Alternative strategy: bearish below 6.70564, target 6.69493, 6.68318
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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