various measures to stabilize the economic market, USD and RMB wide range

Fundamental analysis:

After the nationwide teleconference on stabilizing the economic market, Jilin Province, Zhejiang Province, Shanghai and other places quickly issued a package of economic stabilization policies. Many policies involved the capital market, including promoting more companies to go public and giving full play to the relief of listed companies. The role of hardship funds, encourage the issuance of corporate bonds for technological innovation, and promote the issuance of REITs for more existing infrastructure projects.

USDCNH daily chart:

Technical analysis: The daily moving averages are long arranged but the moving averages are weak, the exchange rate fluctuates widely, the MACD is running on the 0 axis and the volume can be slightly reduced, and the RSI is rising slightly. It is expected that the short-term exchange rate will likely rise further.

Long-short turning point: 6.6416

Resistance: 6.7600 6.8870

Support level: 6.5385 6.4260

Trading Strategy: Above 6.6416, bullish with a price target of 6.7600, then 6.8870.

Alternative strategy: Below 6.6416, bearish with a price target of 6.5385, then 6.4260.

The above analysis is a personal opinion and is for reference only.