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USDCNH: wide amplitude vibration
2022-11-09
1059
Fundamental analysis:
The US dollar/RMB exchange rate remained volatile around 7.23,258. The 2022 "Light of the Internet" Expo, sponsored by the World Internet Conference and the People's Government of Zhejiang Province and supported by the National Internet Information Office, the Ministry of Science and Technology and the Ministry of Industry and Information Technology, was officially opened in Wuzhen, Zhejiang Province.
USD/RMB USDCNH - 4-hour K line chart shows:
Technical analysis:
From the 4-hour chart, we can see that the low position has a short-term narrow range shock, the market may maintain a narrow range consolidation in the short term, the MACD index is in the short position, and the RSI index is in the weak position below the 50 equilibrium line;
Multi empty turning point: 7.23703
Pressing: 7.25107, 7.26398
Support: 7.21805, 7.20241
Trading strategy: bearish at 7.23703, target 7.21805, 7.20241
Alternative strategy: bullish above 7.23703, target 7.25107, 7.26398
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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