The determination of the Federal Reserve to raise interest rates is firm, and the US dollar and RMB continue to consolidate

Fundamental analysis:

St. Louis Fed chairman Brad reiterated his support for raising the benchmark interest rate to 3.5% to curb the surge in inflation. He also agreed with the officials' plan to raise interest rates by 50 basis points. "I don't think it is wise for the central bank to act too quickly." "we don't want to cause too much interference to the market, and we don't want to bring too many accidents." "we do continue to go on. We have announced that we will raise interest rates twice the usual rate, so we will raise interest rates by 50 basis points at each meeting instead of 25 basis points. I think this is a good path."

Usdcnh daily chart:

·

Technical analysis: the daily moving average shows signs of turning, the exchange rate fluctuates in a narrow range, MACD runs on the 0 axis and the volume can be reduced slightly, RSI drops again, and it is expected that the short-term exchange rate probability will further rise after sorting.

Multi empty turning point: 6.6416

Resistance level: 6.7600 6.8870

Support position: 6.5385 6.4260

Trading strategy: above 6.6416, bullish, the target price is 6.7600, then 6.8870.

Alternative strategy: under 6.6416, bearish, the target price is 6.5385, and then 6.4260.

The above analysis is a personal point of view and is for reference only.