The U.S. dollar remained volatile near 7.30488 against the yuan. As the yuan rose on Monday, the one-month offshore yuan swap point used to measure the cost of yuan borrowing jumped 1.73 basis points, the largest increase since 2017; It surged to 5.5% from 2.7% on Friday.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum remains high and fluctuates upwards, the short-term bullish sentiment is shrouded, the bulls in the market continue to rise, the MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance levels: 7.31745 7.32776
Support levels: 7.28687 7.27549
Trading strategy: Bullish above 7.29825, target 7.31745 7.32776
Alternative strategy: bearish below 7.29825, target 7.28687 7.27549