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USDCNH: high volatility
2022-12-27
1043
Fundamental analysis:
USD/RMB remained volatile around 7.00436. The People’s Bank of China conducted reverse repurchase operations of 39 billion yuan for 7 days and 714 billion yuan for 14 days this week. Because 49 billion yuan of reverse repurchases expired this week, a net investment of 7040 yuan was achieved this week. billion. Markets are closed on Monday for Christmas.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is pulling up strongly, the high level fluctuates in a wide range, and there are signs of continuing to move upward in the short term. The MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order above the 50 balance line;
Long-short turning point: 7.00178
Suppression: 7.01049, 7.01609
Support: 6.99644, 6.99138
Trading strategy: Bullish above 7.00178, target 7.01049, 7.01609
Alternative strategy: bearish below 7.00178, target 6.99644, 6.99138
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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