RMB: weak finishing downward

The USD / RMB remained volatile around 6.69327. The people's Bank of China and the Hong Kong Monetary Authority signed a standing swap agreement to upgrade the currency swap arrangement established by the two sides since 2009 to a standing swap arrangement. The agreement is long-term effective. The swap scale was expanded from the original RMB 500billion /590billion to RMB 800billion /940billion, so as to further deepen the financial cooperation between the mainland and Hong Kong, We will better support the construction of Hong Kong's international financial center and promote the steady development of Hong Kong's offshore RMB market.

According to the 4-hour chart, it remained in the broad range of the Bollinger belt index channel for a long time, the Bollinger belt index shifted in a closing trend, and began to move slowly downward. The MACD index was weak around the 0 axis, and the RSI index was in a narrow range under the 50 equilibrium line;

Long short turning point: 6.69547

Pressing position: 6.70601, 6.71807

Support position: 6.68100, 6.67079

Trading strategy: bearish below 6.69547, target 6.68100, 6.67079

Alternative strategy: bullish above 6.69547, target 6.70601, 6.71807