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Usdcnh: high short down

Fundamental analysis:

The price department of the national development and Reform Commission, together with the Consumption Promotion Department of the Ministry of Commerce and other relevant departments, organized industry associations, head breeding enterprises and slaughtering enterprises to hold a meeting to deeply analyze the supply and demand and price situation of the live pig market and study how to ensure the supply and price stability of the live pig market.

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

Technical analysis:

According to the 4-hour chart, the momentum of high-level short sellers has continued to fluctuate downward, short-term short sellers have emerged, the market is shrouded in bearish sentiment, the MACD index has continued to fluctuate downward to the lower side of the 0 axis, and the RSI index is in the lower side of the 50 equilibrium line;

Long short turning point: 6.94245

Pressing position: 6.95343, 6.96471

Support position: 6.92730, 6.91602

Trading strategy: bearish below 6.94245, target 6.92730, 6.91602

Alternative strategy: bullish above 6.94245, targeting 6.95343 and 6.96471

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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