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USD/CNH intraday: above its upper Bollinger band

2023-10-25
201

Our pivot point stands at 7.3102.

Our preference: the upside prevails as long as 7.3102 is support.

Alternative scenario: below 7.3102, expect 7.2979 and 7.2905.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 7.3144 and 7.3148). Finally, the USD/CNH is trading above its upper Bollinger band (standing at 7.3224).

Supports and resistances:

7.3603 **

7.3529 *

7.3455 **

7.3382

7.3228 last

7.3151

7.3102 **

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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