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USDCNH: The volatility narrowed
2023-01-24
1138
Fundamental analysis:
The U.S. dollar against the RMB remained oscillating around 6.77538. It was learned from the China Development Bank that in 2022, the bank will actively meet the financing needs of major water conservancy projects, actively play the role of medium and long-term credit and the CDB infrastructure investment fund, and issue water conservancy loans of 186.4 billion yuan throughout the year.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: In the short term, the market will maintain a low and weak narrow range. The market as a whole is in a weak position, but it is still in a low and narrow range, and the volatility space is gradually narrowing. The MACD indicator is hovering above the 0 axis, and the RSI indicator is at the 50 balance line Neighboring weak finishing;
Long-short turning point: 6.76927
Suppression: 6.79664, 6.81128
Support: 6.75437, 6.73848
Trading strategy: Bullish above 6.76927, target 6.79664, 6.81128
Alternative strategy: bearish below 6.76927, target 6.75437, 6.73848
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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