USDCNH: high move up

The USD/RMB remained volatile around 6.90503. The China Council for the Promotion of International Trade systematically tracked the economic and trade measures of 20 countries (regions), and global economic and trade frictions and conflicts showed high fluctuations. In December 2022, the global economic and trade friction index is 222, which is at a high level, an increase of 75 points compared with November, and an increase of 145 points compared with the same period of the previous year, indicating that the global economic and trade friction conflicts are showing high fluctuations and intensified conflicts.

US dollar RMB USDCNH - the 4-hour K-line chart shows:

Looking at the 4-hour chart: the high-level bullish momentum remains volatile and moves up, the short-term bullish sentiment remains, the MACD indicator is in the bullish zone and is slowly rising, and the RSI indicator is in the bullish zone and keeps moving upward;

Long-short turning point: 6.90084

Suppression: 6.91306, 6.92248

Support: 6.89242, 6.88305

Trading strategy: Bullish above 6.90084, target 6.91306, 6.92248

Alternative strategy: bearish below 6.90084, target 6.89242, 6.88305