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USDCNH: short-term volatility
2023-06-18
701
Fundamental analysis:
The U.S. dollar against the renminbi remained volatile around 7.12854. The Central Bank of China: On June 26, 2023 (Monday), the People’s Bank of China will issue the sixth issue of the 2023 central Bank receipt.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics fluctuated downwards, and the short-term shocks were maintained. The short-term market momentum weakened slightly. The MACD index was in the short-term area and oscillated slowly downward, and the RSI index was hovering weakly below the 50 balance line;
Resistance levels: 7.13624 7.14369
Support levels: 7.11575 7.10923
Trading strategy: Bullish above 7.12330, target 7.13624 7.14369
Alternative strategy: bearish below 7.12330, target 7.11575 7.10923
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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