A number of Fed officials were vague about how much they would support a rate increase at the September meeting, but continued to stress that they would further raise interest rates and keep it for a while after the rate increase was stopped until inflation was squeezed out of the economy
USD / RMB usdcnh daily chart:
According to the daily chart, the short-term consolidation of prices is gaining momentum. MACD operates on the 0 axis and the volume can be increased slightly. RSI continues to rise. It is expected that the short-term exchange rate will further rise after stepping back on the consolidation.
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