USDCNH: High level step vibration moves up

Fundamental analysis:

The USD/RMB remained volatile at 7.22132, and the People's Bank of China carried out RMB 500 billion medium-term lending facility (MLF) operations and RMB 2 billion open market reverse repurchase operations. The "price stability" of this continuation is in line with the expectation, while the "volume leveling" is slightly higher than the expectation, indicating that under the comprehensive consideration of internal and external factors, the People's Bank of China will neither significantly tighten liquidity nor excessively support liquidity at the level of volume.

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

Technical analysis:

The 4-hour chart shows that the high level is slowly rising in a ladder like shock, and short-term bullish sentiment is shrouded. The market bulls are showing signs of continuing to pull upward. The MACD index stays in the bulls' area and maintains consolidation and translation, while the RSI index stays in the 50 equilibrium line and hovers in the weak market;

Empty turning point: 7.21346

Pressing: 7.23536, 7.24891

Support: 7.20109, 7.18790

Trading strategy: bullish on 7.21346, target 7.23536, 7.24891

Alternative strategy: bearish at 7.21346, target 7.20109, 7.18790