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Usdcnh: high shock up
2022-09-06
1134
Fundamental analysis:
The USD / RMB kept fluctuating around 6.93980. The people's Bank of China: in order to improve the ability of financial institutions to use foreign exchange funds, the people's Bank of China decided to reduce the foreign exchange reserve ratio of financial institutions by 2 percentage points from September 15, 2022, that is, the foreign exchange reserve ratio was reduced from the current 8% to 6%.
USD / RMB usdcnh - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls' momentum is at a high level, and after narrow range consolidation, it will shake and rise. In the short term, bulls will continue to move upward. The bullish sentiment of the market is heating up. MACD index is at a high level in the Bulls' region, and RSI index is at a 50% equilibrium. The online side is weak;
Long short turning point: 6.93447
Pressing position: 6.95211, 6.96277
Support position: 6.92148, 6.90850
Trading strategy: bullish above 6.93447, targeting 6.95211 and 6.96277
Alternative strategy: bearish below 6.93447, target 6.92148, 6.90850
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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