Usdcnh: high short consolidation moves down

Fundamental analysis:

The US dollar kept fluctuating around 6.95899 against the RMB. The digital currency Research Institute of the people's Bank of China released the prepaid fund management product of digital RMB smart contract - "Yuan manager" at the second China (Beijing) digital Finance Forum in 2022. "Yuan manager" deploys smart contracts on digital RMB wallets to provide solutions to prevent merchants from misappropriating funds and protect users' rights and interests in prepaid consumption service scenarios.

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

Technical analysis:

According to the 4-hour chart, the momentum of high-level bears maintained a choppy and slow decline, the market bears began to ferment, waiting for the opportunity to move down, the MACD index was in the long area, and the consolidation continued to decline, and the RSI index was in the weak consolidation near the 50 equilibrium line;

Long short turning point: 6.95932

Pressing position: 6.97236, 6.68462

Support position: 6.94314, 6.93052

Trading strategy: bearish below 6.95932, targets 6.94314, 6.93052

Alternative strategy: bullish above 6.95932, targeting 6.97236 and 6.68462