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USDCNH: Multi head step up oscillation
2022-09-16
1133
Fundamental analysis:
The exchange rate of USD against RMB remained volatile around 7.00910, China's balance of payments structure became more stable, the market-oriented adjustment mechanism became increasingly mature, foreign exchange market participants became more rational, and the comprehensive ability to cope with changes in the external environment was further improved, laying a solid foundation for the smooth operation of China's foreign exchange market.
USD/RMB USDCNH - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum moves upward in a step like manner. The short-term bullish mood is good, and the bulls continue to rise. The MACD index stays in the bulls' area and keeps moving up in the shock, while the RSI index stays in the bulls' area and finishing at a high level;
Empty turning point: 7.00457
Pressing position: 7.01911, 7.02741
Support position: 6.99536, 6.98712
Trading strategy: 7.00457 upside bullish, target 7.01911, 7.02741
Alternative strategy: 7.00457 bearish, target 6.99536, 6.98712
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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