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USDCNH: low volatility

2023-01-05
601
Fundamental analysis:
USD/RMB remained volatile around 6.90381. In December, China's logistics industry prosperity index was 46%, down 0.4 percentage points from the previous month. In terms of sub-indices, the total business volume and new orders index fell, the inventory index rose, the inventory turnover index slowed down, and the employment index declined.

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



Brief technical analysis:
The 4-hour chart: the low level maintains a wide range of shocks, the market's bearish sentiment remains, and the short-term or entangled low level shocks, the MACD indicator is in the short zone and the RSI indicator is hovering in the short zone;
Long-short turning point: 6.90381
Suppression: 6.91305, 6.92179
Support: 6.89056, 6.88209
Trading strategy: bearish below 6.90381, target 6.89056, 6.88209
Alternative strategy: Bullish above 6.90381, target 6.91305, 6.92179

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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