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Usdcnh: high shock down

Fundamental analysis:

The US dollar kept fluctuating around 6.91500 against the RMB. Wang Qun, China's permanent representative to the United Nations in Vienna, said in an interview with reporters before the meeting that how to deal with the issue of nuclear submarine cooperation between the United States, Britain and Australia at the meeting was the touchstone to test the IAEA's non-proliferation function.

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

Technical analysis:

According to the 4-hour chart, the momentum of high-level short positions is maintained in a choppy downward trend, the short-term decline may continue, the market is shrouded in short positions, the MACD index is in the weak consolidation below the 0 axis, and the RSI index is in the weak hovering below the 50 equilibrium line;

Long short turning point: 6.92106

Pressing position: 6.93167, 6.94200

Support position: 6.90487, 6.89566

Trading strategy: bearish below 6.92106, target 6.90487, 6.89566

Alternative strategy: bullish above 6.92106, targeting 6.93167 and 6.94200

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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