USDCNH: low recovery

USD/RMB remained volatile around 6.86953. China will become one of the few countries in the world whose economy can accelerate growth, while the economies of the United States and Europe face higher financial risks. Given financial soundness, policy discipline and the new political and economic cycle, it is believed that China can at least be a safe haven, while recent measures such as the People's Bank of China's decision to lower the reserve requirement ratio also lend support to global turmoil.

US dollar RMB USDCNH - the 4-hour K-line chart shows:

Looking at the 4-hour chart: the low-level bullish momentum maintains shocks and rebounds, the market bullish sentiment emerges, and there is a short-term upward trend, the MACD indicator is in the short-term area and moves upward, and the RSI indicator is hovering above the 50 balance line;

Resistance levels: 6.88006 6.89142

Support levels: 6.85251 6.84219

Trading strategy: Bullish above 6.86319, target 6.88006 6.89142

Alternative strategy: bearish below 6.86319, target 6.85251 6.84219