Usdcnh: high level narrow range finishing

Fundamental analysis:

The US dollar fluctuated around 6391097 against the RMB. In 2021, the new kinetic energy index of China's economic development was 598.8, an increase of 35.4% over the previous year. The new kinetic energy with new industries, new formats and new models as the main content achieved steady growth, the economic vitality continued to improve, the innovation capacity was further strengthened, the network economy continued to develop rapidly, the transformation and upgrading results were obvious, and the new kinetic energy for development was cultivated and strengthened. In order to achieve a good start of the 14th five year plan We will continue to inject new impetus into high-quality economic development.

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

Technical analysis:

According to the 4-hour chart, the Bulls' power maintained a fluctuating rise. After the high-level narrow range consolidation, the bears' power waited for the opportunity to enter the market and move down slowly. In the short term, the weak consolidation moved down slowly. The MACD index maintained a slow downward consolidation in the Bulls' region, and the RSI index hovered at the 50 balanced online side;

Long and short turning point: 6.91097

Pressing position: 6.92552, 6.93925

Support position: 6.89019, 6.87638

Trading strategy: bearish below 6.91097, targets 6.89019 and 6.87638

Alternative strategy: bullish above 6.91097, targets 6.92552 and 6.93925