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RMB: short-term retreat and then rise

2022-07-19
1246
Fundamental analysis:

The USD / RMB remained volatile around 6.75757. In response to relevant inquiries, the Chinese Ministry of foreign affairs reiterated that China's position on practical cooperation with countries including Australia has always been clear.


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



Technical analysis:


Looking at the 4-hour chart: the Bull Power maintained a step-by-step shock rise, the high level retreated for a short time and then pulled up again, the bull still moved further upward, the MACD index was in the bull region and maintained a consolidation and translation, and the RSI index was in the 50 equilibrium online side;


Long short turning point: 6.75287


Pressing position: 6.75797, 6.77679


Support position: 6.74489, 6.73524


Trading strategy: bullish above 6.75287, target 6.75797, 6.77679


Alternative strategy: bearish below 6.75287, target 6.74489, 6.73524

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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