Usdcnh: high level narrow range finishing

Fundamental analysis:

The USD / RMB fluctuated around 6.92109. The report on the implementation of China's fiscal policy for the first half of the year issued by the Ministry of Finance pointed out that the next step would be to strengthen macro policy adjustment, plan incremental policy tools, arrange ahead, speed up the pace, and intensify efforts in a timely manner, continue to do a good job in the "six stabilities" and "six guarantees", continue to guarantee and improve people's livelihood, keep the economic operation within a reasonable range, and welcome the victory of the 20th National Congress of the Communist Party of China with practical actions.

USD and RMB usdcnh - 4-hour K-line diagram shows:

Technical analysis:

According to the 4-hour chart, after the long power maintained the shock and pull up, the high-level narrow range consolidation and translation, the market bull sentiment still exists, the MACD index is in the high-level consolidation and translation of the long region, and the RSI index is in the weak wandering of the long region;

Long and short turning point: 6.91839

Pressing position: 6.93366, 6.94809

Support position: 6.90452, 6.89019

Trading strategy: bullish above 6.91839, target 6.93366, 6.94809

Alternative strategy: bearish below 6.91839, targets 6.90452 and 6.89019