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may raise interest rates more than expected in July, USD and RMB continue to rise
2022-06-13
67494
Fundamental analysis:
Traders are pricing in a 50% chance the Fed will raise rates by 75 basis points in July, while Barclays expects as much as next week as soon as possible.
USDCNH daily chart:
Technical analysis: The daily moving average is short, the exchange rate continues to rise, the MACD is running on the 0-axis but the volume can continue to shrink slightly, the RSI is slightly stronger, and the short-term exchange rate is expected to be more likely to rise further.
Long-short turning point: 6.6416
Resistance: 6.7600 6.8870
Support level: 6.5385 6.4260
Trading Strategy: Above 6.6416, bullish with a price target of 6.7600, then 6.8870.
Alternative strategy: Below 6.6416, bearish with a price target of 6.5385, then 6.4260.
The above analysis is a personal opinion and is for reference only.
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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