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USDCNH: high order

Fundamental analysis:

USD/RMB remained volatile around 7.06232. National Bureau of Statistics: The price of hogs in mid-May fell by 1.4% month-on-month. The prices of 8 products rose, 41 fell, and 1 remained unchanged. Among them, the price of live pigs (external three yuan) was 14.2 yuan/kg, a decrease of 1.4% from the previous month.

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

Brief technical analysis:

The 4-hour chart: the high-level bullish momentum maintains shocks and moves upwards, and the market is still bullish, and there are signs of continued upward movement in the short term. The MACD indicator is in the long-term zone to maintain translation, and the RSI indicator is in the long-term zone to maintain consolidation;

Resistance levels: 7.07413 7.08352

Support levels: 7.04625 7.03782

Trading strategy: Bullish above 7.05597, target 7.07413 7.08352
Alternative strategy: bearish below 7.05597, target 7.04625 7.03782

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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