The US Federal Reserve continued to exert pressure on the US dollar and RMB to stop falling and rebound

Fundamental analysis:

According to a new research report of the Federal Reserve, the size of the Federal Reserve's balance sheet will be reduced by $2.5 trillion in the next few years, which is equivalent to raising interest rates by about half a percentage point. However, the research report also warned that there is great uncertainty in the transmission of the balance sheet and policy interest rate actions to the medium and long-term interest rates, and the resulting trend of the yield curve to the wider economy.

Usdcnh daily chart:

·

Technical analysis: the daily chart moving average is short, and the exchange rate stops falling after accelerating the decline. MACD runs on the 0 axis, but the volume can continue to shrink slightly. RSI goes down again, and it is expected that the short-term exchange rate probability will go down further.

Multi empty turning point: 6.6416

Resistance level: 6.7600 6.8870

Support position: 6.5385 6.4260

Trading strategy: below 6.6416, bearish, the target price is 6.5385, then 6.4260.

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

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