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USDCNH: Multi head lifting
2022-11-01
1125
Fundamental analysis:
The USD/RMB remained volatile around 7.33,221. According to the survey and PMI of the steel industry released by the Professional Committee of Iron and Steel Logistics of the China Union of Things, it was 44.3% in October 2022, down 2.3 percentage points month on month, ending the month on month recovery momentum for two consecutive months, indicating that the operation of the steel industry has fluctuated.
USD/RMB USDCNH - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum is strong, the short-term bullish sentiment remains, the market bulls' momentum continues to move upward, the MACD index is in the bulls' region and keeps moving upward, and the RSI index is hovering in the 50 equilibrium line market;
Multi empty turning point: 7.32850
Pressing: 7.34747, 7.36240
Support: 7.31397, 7.29864
Trading strategy: bullish above 7.32850, target 7.34747, 7.36240
Alternative strategy: bearish below 7.32850, target 7.31397, 7.29864
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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