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Indonesia
RMB: bullish strong rise
2022-07-13
1150
Fundamental analysis:
The USD / RMB remained volatile around 6.73170. All banking and insurance administrations and bancassurance institutions should thoroughly implement the decisions and arrangements of the central economic work conference, accurately grasp the overall planning and policy orientation of the national manufacturing development, and ensure the high-quality completion of the target task of "increasing medium and long-term loans for manufacturing" in the government work report.
USD and RMB usdcnh - 4-hour K-line diagram shows:
Technical analysis:
Looking at the 4-hour chart: the bull momentum has strongly pulled up, and the short-term bull high has retreated, but the market pull-up trend may continue. The MACD index is in the high position of the bull region, and the RSI index is in the high position of the bull region;
Long short turning point: 6.73165
Pressing position: 6.74332, 6.75333
Support position: 6.72116, 6.71257
Trading strategy: bullish above 6.73165, target 6.74332, 6.75333
Alternative strategy: bearish below 6.73165, targets 6.72116, 6.71257
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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