USDCNH: Oscillation moves up

Fundamental analysis:

The USD/RMB exchange rate remained volatile at 7.27266. The year-on-year growth of China's CPI slowed down. The prices of major consumer goods were "more up than down" year on year and month on month. The inflationary pressure was significantly reduced compared with that in September. Domestic inflation is expected to continue to maintain an overall stable state. Although the rising pig cycle has a certain pull on CPI, the core CPI continues to decline, with less inflationary pressure.

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

Technical analysis:

The 4-hour chart shows that the low bulls' momentum maintains a narrow range and slowly moves upward. In the short term, the bulls continue to move upward. The market bulls' sentiment is good. The MACD index is in the short position and moves up and hovers near the 0 axis. The RSI index is in the weak position above the 50 equilibrium line;

Empty turning point: 7.26646

Pressing: 7.28692, 7.30094

Support: 7.25319, 7.24069

Trading strategy: bullish on 7.26646, target 7.28692, 7.30094

Alternative strategy: bearish at 7.26646, target 7.25319, 7.24069