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USDCNH: Bears move down
2023-01-27
972
Fundamental analysis:
The USD/RMB remained oscillating around 6.73457. According to data released by the Asset Management Association of China a few days ago, in December 2022, a total of 76 corporate asset securitization products were registered and confirmed, and the new filing scale totaled 71.193 billion yuan. As of the end of December 2022, there are 2,200 surviving corporate asset securitization products, with a surviving scale of 1,948.051 billion yuan.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum continues to decline again, and the short-term decline has not yet come to an end. The market is shrouded in bearish sentiment, and there is a trend of continuing to move downward. The MACD indicator is slowly moving downward below the 0 axis, and the RSI indicator is below the 50 balance line. Weak side arrangement;
Long-short turning point: 6.73993
Suppression: 6.74857, 6.75811
Support: 6.72576, 6.71808
Trading strategy: bearish below 6.73993, target 6.72576, 6.71808
Alternative strategy: Bullish above 6.73993, target 6.74857, 6.75811
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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