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USDCNH: high volatility
2023-06-15
806
Fundamental analysis:
The USD/RMB remained volatile around 7.16888. The Hong Kong dollar-RMB dual-counter stock model will start next Monday (19th). 24 Hong Kong-listed companies have applied for the addition of RMB counters and have been approved by the Hong Kong Stock Exchange. 39.5%.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: The bullish momentum fluctuates in a wide range after rising at a high level, and the bullish sentiment in the market begins to weaken. The MACD indicator is in the bullish zone to maintain consolidation, and the RSI indicator is hovering weakly on the side of the 50 balance line;
Resistance levels: 7.18066 7.19046
Support levels: 7.16089 7.15347
Trading strategy: bearish below 7.17177, target 7.16089 7.15347
Alternative strategy: Bullish above 7.17177, target 7.18066 7.19046
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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