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RMB: weak shock and downward trend
2022-08-09
1266
Fundamental analysis:
The USD / RMB fluctuated around 6.75904. Due to the impact of factors such as the China US interest rate differential will remain upside down for a long period of time, the pressure on domestic price stability will increase, and insufficient demand will restrict the effect of monetary easing, it is expected that the probability of interest rate reduction and RRR reduction in the short term is small.
USD and RMB usdcnh - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the weak shock moves downward, the short-term decline may continue, the market amplitude space narrows, the MACD index is weak around the 0 axis, and the RSI index is narrow around the 50 equilibrium line;
Long and short turning point: 6.76116
Pressing position: 6.76640, 6.77252
Support position: 6.75255, 6.74794
Trading strategy: bearish below 6.76116, target 6.75255, 6.74794
Alternative strategy: bullish above 6.76116, target 6.76640, 6.77252
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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