USDCNH: Bull concussion moves up

Fundamental analysis:

The exchange rate between the US dollar and the RMB remained volatile around 7.15109. The Bank of International Settlements (Hong Kong) Innovation Center, the Hong Kong Monetary Authority, the Central Bank of Thailand, the Central Bank of the United Arab Emirates and the Digital Currency Institute of the People's Bank of China jointly announced that between August 15 and September 23, The m-CBDC Bridge (hereinafter referred to as the "money bridge") platform of multilateral central banks has completed the first real transaction pilot test of digital currencies based on central banks in four countries or regions, and 20 commercial banks from four regions have completed more than 160 multi scenario payment and settlement businesses focusing on cross-border trade for customers based on the money bridge platform.

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

Technical analysis:

The 4-hour chart shows that the low bulls' momentum remains volatile and moves upward, the short-term bullish sentiment continues, and the market bulls' momentum may continue. The MACD indicator hovers on the top of the 0 axis, and the RSI indicator is in the 50 balanced online weak sorting;

Multi empty turning point: 7.14673

Pressing: 7.17096, 7.19210

Support: 7.12895, 7.11137

Trading strategy: bullish above 7.14673, target 7.17096, 7.19210

Alternative strategy: 7.14673 bearish, target 7.12895, 7.11137