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USDCNH: high order
2023-04-25
857
Fundamental analysis:
The USD/RMB remained volatile around 6.90020. Ambassador Fu Cong, head of the Chinese Mission to the EU, recently accepted an exclusive interview with The Paper, where he talked about the EU's pursuit of "strategic autonomy", China-EU communication on the Ukraine issue, and China's position.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: short-term bullish dynamics fluctuate and rise, and the high level is arranged within a narrow range. The bullish sentiment in the market has begun to weaken.
Resistance levels: 6.90504 6.91006
Support levels: 6.89412 6.88925
Trading strategy: Bullish above 6.89899, target 6.90504 6.91006
Alternative strategy: bearish below 6.89899, target 6.89412 6.88925
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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