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USDCNH: high move up
2023-08-13
695
Fundamental analysis:
USD/RMB remained oscillating around 7.25931. According to central bank data, RMB loans increased by 16.08 trillion yuan in the first seven months, an increase of 1.67 trillion yuan year-on-year. In July, RMB loans increased by 345.9 billion yuan, a year-on-year decrease of 349.8 billion yuan.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the high-level bulls keeps oscillating and moving up, the short-term bullish sentiment remains, the market bulls continue to rise, the MACD indicator is in the bullish zone, and the RSI indicator is in the bullish zone and continues to move upward;
Resistance levels: 7.26793 7.27560
Support levels: 7.24600 7.23814
Trading strategy: Bullish above 7.25412, target 7.26793 7.27560
Alternative strategy: bearish below 7.25412, target 7.24600 7.23814
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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