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RMB: high volatility moves down
2022-07-22
1264
Fundamental analysis:
The USD / RMB remained volatile around 6.76575. By the end of June 2022, China Customs had signed AEO mutual recognition agreements with 22 economies such as Singapore and the European Union, covering 48 countries and regions, and the number of mutual recognition agreements and countries (regions) ranked first in the world.
USD and RMB usdcnh - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the long power maintained a good momentum of shock and rise, and began to retreat slowly after touching the nodes near the early high level. The short power waited for the opportunity to enter, the MACD index was in the long area to maintain consolidation and retreat, and the RSI index was in the long area to maintain consolidation and slowly decline;
Long short turning point: 6.76692
Pressing position: 6.77522, 6.78457
Support position: 6.75916, 6.75266
Trading strategy: bearish below 6.76692, target 6.75916, 6.75266
Alternative strategy: bullish above 6.76692, target 6.77522, 6.78457
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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