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USDCNH: When the second roof detection is in progress
2022-10-17
1172
Fundamental analysis:
China's economic strength has achieved a historic leap. Its gross domestic product has grown from 54 trillion yuan to 114 trillion yuan. China's total economic output accounts for 18.5 percent of the world economy, an increase of 7.2 percent, and it ranks second in the world.
USD/RMB USDCNH daily line chart:
Technical analysis:
From the daily chart, we can see that the short-term exchange rate continues to rise, and there is a trend of another peak. The MACD runs on the 0 axis and the volume can be increased slightly. The RSI oversold area hovers. It is expected that the short-term exchange rate will be consolidated at a high level.
Empty turning point: 7.0500
Resistance level: 7.1500 7.2600
Support position: 6.9500 6.8500
Trading strategy: above 7.0500, bullish, target prices are 7.1500 and 7.2600
Alternative strategy: bearish below 7.0500, with target prices of 6.9500 and 6.8500
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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