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:
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