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USDCNH: low down
2022-12-02
1081
Fundamental analysis:
USD/RMB remained volatile around 7.03914. The central bank launched a medium-term lending facility operation for financial institutions totaling 850 billion yuan in November, with a term of one year and an interest rate of 2.75%, unchanged from the previous month. The balance of medium-term lending facilities at the end of the period was 4.4 trillion yuan.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics fluctuate downward at a low level, the short-term decline may continue, the market as a whole is in a continuous downward trend, the MACD indicator is in the low-level order in the watch area, and the RSI index is in the weak order in the short-term area;
Long-short turning point: 7.04555
Suppression: 7.06160, 7.07764
Support: 7.02155, 7.00476
Trading strategy: bearish below 7.04555, target 7.02155, 7.00476
Alternative strategy: Bullish above 7.04555, target 7.06160, 7.07764
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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