Usdcnh: good upward trend

Fundamental analysis:

The Morgan Stanley research paper pointed out that the tightening of the US financial situation caused by the strengthening of the Federal Reserve may support the US dollar. In addition, against the background of rising energy and food prices, the economic growth prospects of the euro zone continue to weaken. It continues to recommend that the short position of the euro against the US dollar be targeted at 0.97 and 1.05 as the stop point. The Jackson Hole annual meeting of the central bank to be held this week may be an important factor for the US dollar, because it gives US Federal Reserve Chairman Powell an opportunity to continue to emphasize the Fed's commitment to fighting inflation

USD / RMB usdcnh daily chart:

Technical analysis:

According to the daily chart, the short-term price continues to rise slightly, the MACD runs on the 0 axis and the volume can increase slightly, the RSI continues to rise, and it is expected that the short-term exchange rate will further rise after stepping back.

Long and short turning point: 6.6420

Resistance level: 6.7600 6.8870

Support position: 6.5375 6.4260

Trading strategy: above 6.6420, bullish, with target prices of 6.7600 and 6.8870

Alternative strategy: under 6.6420, bearish, with target prices of 6.5375 and 6.4260