USDCNH: Narrow finishing

Fundamental analysis:

The exchange rate between the US dollar and the RMB remained volatile around 7.14974. The Hong Kong Monetary Authority optimized the construction of the offshore RMB market in Hong Kong and improved the liquidity of the offshore RMB. The People's Bank of China and the Monetary Authority established a standing currency swap arrangement in July this year, significantly increased the swap line to 800 billion yuan, and promoted the diversified development of RMB products, To assist international investors in managing the interest rate risk of investing in onshore RMB bonds, we should also make preparations for the use of RMB in Hong Kong stock trading, and strive for more domestic and foreign institutions to issue RMB bonds in Hong Kong.

USD/RMB USDCNH - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that in the short term, the market is in a narrow range of consolidation and translation, and the overall market is in a weak position. In the short term, the market is unable to go out of the direction. The MACD indicator is in a weak position hovering on the upper side of the 0 axis, and the RSI indicator is in a weak position near the 50 equilibrium line;

Multi empty turning point: 7.14239

Pressing: 7.17,102, 7.18,957

Support: 7.12144, 7.09927

Trading strategy: bullish above 7.14239, target 7.17102, 7.18957

Alternative strategy: 7.14239 bearish, target 7.12144, 7.09927