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USDCNH: Weak down

Fundamental analysis:
USD/RMB remained oscillating around 6.76306. RRR cuts and interest rate cuts will highlight "precision" while maintaining inclusiveness. The market predicts that the probability of RRR cuts and interest rate cuts in 2023 still exists, and the "targeted interest rate cuts" for the real estate sector will continue to advance.

US dollar RMB USDCNH - the 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the low-level and narrow-range order is slowly descending, the market as a whole is in a bearish trend moving downward, the MACD indicator is in the short-term area, and the RSI indicator is in the short-term area.
Long-short turning point: 6.77228
Suppression: 6.78774, 6.80390
Support: 6.74907, 6.73380
Trading strategy: bearish below 6.77228, target 6.74907, 6.73380
Alternative strategy: Bullish above 6.77228, target 6.78774, 6.80390

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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