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sdcnh: high range oscillation

Fundamental analysis:

The USD / RMB fluctuated around 6.91566. Recently, the central bank lowered the policy interest rate, leading the financing cost of enterprises and individuals to further decline. However, the implementation effect of the monetary policy still depends on the cultivation of economic confidence of market participants.

USD / RMB usdcnh - 4-hour K-line chart shows:

Technical analysis:

According to the 4-hour chart, the short-term high range is adjusted and shifted in a narrow range, the market as a whole is still hovering at the long high level, the MACD index is maintained in the long range, and the RSI index is hovering at the 50 equilibrium online side;

Long and short turning point: 6.91097

Pressing position: 6.92552, 6.93925

Support position: 9.90027, 9.88867

Trading strategy: bullish above 6.91097, targeting 6.92552 and 6.93925

Alternative strategy: bearish below 6.91097, target 9.90027, 9.88867

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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