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USDCNH: Slowly rising
2023-09-05
467
Fundamental analysis:
The U.S. dollar remains volatile against the RMB at around 7.27514. The Beijing Branch of the Central Bank: It is studying the existing mortgage interest rate adjustment plan before the LPR reform and will announce it to the public before September 25.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The low bull momentum maintains consolidation and moves upward slowly, bullish sentiment emerges in the market, and there are signs of continued upward movement in the short term. The MACD indicator is in the short zone and maintains consolidation, and the RSI indicator is hovering near the 0 axis;
Resistance level: 7.28191 7.28797
Support level: 7.26492 7.25906
Trading strategy: Bullish above 7.27159, target 7.28191 7.28797
Alternative strategy: bearish below 7.27159, target 7.26492 7.25906
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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