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RMB: continuous fluctuation

2022-06-29
1292
Fundamental analysis:

The USD / RMB remained volatile around 6.70058. The national development and Reform Commission will deepen the market-oriented reform of factors, focus on the pilot comprehensive reform of market-oriented allocation of factors, improve the basic system of data factors, and accelerate the construction of a national unified market. Efficient macroeconomic governance.


USD and RMB usdcnh - 4-hour K-line chart display:



Technical analysis:


According to the 4-hour chart, it has remained in the broad range of the Bollinger belt index channel for a long time, and the short-term bull power has maintained the consolidation and upward movement. The Bollinger belt index continues to show a closing trend, the MACD index hovers at the lower side of the 0 axis, and the RSI index is at the upper side of the 50 equilibrium line;


Multi empty turning point: 6.69547


Pressing position: 6.71347, 6.72458


Support position: 6.68431, 6.67285


Trading strategy: bullish above 6.69547, target 6.71347, 6.72458


Alternative strategy: bearish below 6.69547, target 6.68431, 6.67285



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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