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USDCNH: wide shock

Fundamental analysis:

The U.S. dollar against the RMB maintains a shock around 7.29255. From January 1, 2024 to December 31, 2027, the comprehensive income obtained by resident individuals, the annual comprehensive income income does not exceed 120,000 yuan and needs to be settled and paid, or the annual remittance Resident individuals may be exempted from the final settlement and payment of comprehensive income for personal income tax if the amount of tax payable after settlement does not exceed 400 yuan.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term maintains a wide range of shocks, the market's bullish sentiment is gradually emerging, the bullish momentum is slowly rising, the MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;

Resistance levels: 7.30249 7.31151

Support levels: 7.27742 7.26911

Trading strategy: Bullish above 7.28733, target 7.30249 7.31151
Alternative strategy: bearish below 7.28733, target 7.27742 7.26911

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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