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USD/CNH intraday: target 7.2898

2023-10-24
317

Our pivot point is at 7.3242.

Our preference: target 7.2898.

Alternative scenario: above 7.3242, look for 7.3365 and 7.3439.

Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (7.3167) but above its 50 period moving average (7.3120).

Supports and resistances:

7.3439 **

7.3365 *

7.3242 **

7.3193

7.3123 last

7.2972

7.2898 **

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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