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RMB: narrow range fluctuation

2022-07-01
1346
Fundamental analysis:

The USD / RMB remained volatile around 6.69194. As the domestic epidemic prevention and control situation continued to improve, the implementation of a package of policies and measures to stabilize the economy accelerated, and China's overall economic recovery accelerated.



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



Technical analysis:


According to the 4-hour chart: it has been maintained in the broad range of the Bollinger belt index channel for a long time, and the Bollinger belt index is in a closing trend. The MACD index is weak around the 0 axis, and the RSI index is in a narrow range near the 50 equilibrium line;


Multi empty turning point: 6.69547


Pressing position: 6.70601, 6.71807


Support position: 6.68100, 6.67076


Trading strategy: bearish below 6.69547, target 6.68100, 6.67076


Alternative strategy: bullish above 6.69547, target 6.70601, 6.71807

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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