USDCNH: low volatility

Fundamental analysis:

USD/RMB remained volatile around 6.97178. The employment situation in the service sector improved briefly in October, but contracted again in November. The employment index fell to the lowest level since November 2005, when this sub-item was available. The survey shows that the epidemic prevention and control measures have restricted travel in some areas and prevented personnel from returning to work. At the same time, the decline in business demand has also actively tightened employment.

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

Brief technical analysis:

4-hour chart view: The short-term dynamics continue to fluctuate after a low level, short-term or maintain a low level, the market is short-sentimental, the MACD indicator is in the short-term area, and the RSI indicator is in the short-term area to maintain shocks;

Long-short turning point: 6.98043

Suppression: 7.00074, 7.02104

Support: 6.95355, 6.93265

Trading strategy: bearish below 6.98043, target 6.95355, 6.93265

Alternative strategy: Bullish above 6.98043, target 7.00074, 7.02104