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RMB: range shock downward

2022-07-08
1213
Fundamental analysis:

The USD / RMB remained volatile around 6.69155, and vice premier Liu he held a video call with finance minister Yellen at request. The two sides believe that the current world economy is facing severe challenges, and it is of great significance to strengthen the communication and coordination of macro policies between China and the United States, and jointly maintain the stability of the global industrial chain supply chain, which is beneficial to China, the United States and the whole world.


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



Technical analysis:


According to the 4-hour chart, it remained in the broad vibration in the brin zone index channel for a long time, during which it repeatedly spied the nodes of the upper and lower rail sections, the brin zone index continued to shift, the MACD index was in the weak hovering near the 0 axis, and the RSI index was in the shock downward below the 50 equilibrium line;


Long short turning point: 6.69753


Pressing position: 6.70891, 6.71994


Support position: 6.68097, 6.67166


Trading strategy: bearish below 6.69753, target 6.68097, 6.67166


Alternative strategy: bullish above 6.69753, target 6.70891, 6.71994

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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