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USDCNH: Short term pullback moves up again
2022-10-03
1135
Fundamental analysis:
The fluctuation of USD against RMB remained around 7.13641. The central bank lowered the loan interest rate of the first set of personal housing provident fund, which is not only conducive to better matching the downward trend of the commercial mortgage loan interest rate related to housing, but also conducive to further improving the convenience of borrowing and repayment, and supporting the meeting of rigid and improving housing demand.
USD/RMB USDCNH - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the high level ladder moves back and the bulls slowly enter the field after being supported in the short term. The MACD index hovers at the lower side of the axis 0, and the RSI index is arranged in a narrow range near the 50 equilibrium line;
Multi empty turning point: 7.12426
Pressing position: 7.16298, 7.18520
Support position: 7.09887, 7.07157
Trading strategy: 7.12426 upward bullish, target 7.16298, 7.18520
Alternative strategy: 7.12426 bearish, target 7.09887, 7.07157
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