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RMB: continuous fluctuation and rise

2022-07-21
1233
Fundamental analysis:

The USD / RMB remained volatile around 6.76985. Premier Li Keqiang attended the world economic forum global entrepreneurs video special dialogue at the Great Hall of the people, delivered a speech and interacted with entrepreneurs' representatives. World Economic Forum president Schwab presided over, and nearly 400 entrepreneurs from more than 50 countries participated.


USD and RMB usdcnh - 4-hour K-line diagram shows:



Technical analysis:


According to the 4-hour chart, the trend of long power to maintain shock and pull up is good, and the short-term long upward trend may continue. The early high is close at hand, and the break is imminent. MACD index is in the long region to maintain shock and rise, and RSI index is in the narrow consolidation of the long region;


Long short turning point: 6.76692


Pressing position: 6.77826, 6.78560


Support position: 6.75916, 6.75266


Trading strategy: bullish above 6.76692, target 6.77826, 6.78560


Alternative strategy: bearish below 6.76692, target 6.75916, 6.75266


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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