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USDCNH: sorting out high position and weak position
2022-10-14
1214
Fundamental analysis:
The exchange rate between the US dollar and the RMB remained volatile at 7.17223, and IFAD completed the task of launching all 245.9 billion yuan of policy oriented development financial instruments. The fund is fully used to support eight areas, including municipal and industrial park infrastructure, transportation infrastructure, agricultural and rural infrastructure, energy infrastructure, urban and rural cold chain, and major logistics infrastructure.
USD/RMB USDCNH - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the high short-term narrow range consolidation and translation, the short market momentum began to slowly enter the market, the MACD index remained weak in the long region, and the RSI index was narrow range consolidation and downward in the long region;
Empty turning point: 7.17905
Pressing: 7.19627, 7.21302
Support: 7.15485, 7.14205
Trading strategy: bearish under 7.17905, target 7.15485, 7.14205
Alternative strategy: bullish above 7.17905, target 7.19627, 7.21302
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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