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USDCNH: low down
2023-07-13
843
Fundamental analysis:
The USD/RMB remained volatile around 7.16560. An official in the Argentine banking industry, who did not want to be named, said that ICBC Argentina may be the first Argentine local commercial bank to open a RMB account.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term sentiment in the market continues to fall, the short-term decline may continue, the overall short-term momentum in the market continues to decline, the MACD indicator is in the short-selling area and continues to move down, and the RSI indicator is in the short-selling area and fluctuates at a low level;
Resistance levels: 7.17691 7.18422
Support levels: 7.15770 7.15107
Trading strategy: bearish below 7.18962, target 7.15770 7.15107
Alternative strategy: Bullish above 7.18962, target 7.17691 7.18422
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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