The operation of China's foreign exchange market is generally stable

Fundamental analysis:

The USD / RMB remained volatile around 6.66611. In May 2022, China's foreign exchange market was generally stable, and the domestic foreign exchange supply and demand remained basically balanced. In the international financial market, influenced by the monetary policies and expectations of major countries, global economic growth prospects, geopolitical situation and other factors, the US dollar index fell slightly, and the prices of financial assets in major countries rose and fell.

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

Technical comments: it has been maintained in the Bollinger belt index channel for a long time to maintain a wide range of concussion and move down, and the low-level narrow range consolidation has moved up to the node near 6.68873, and then it is blocked for consolidation. The bull power shows signs of rapidly waiting for the opportunity to move up, the Bollinger belt index is in the closing trend, the MACD index is in the short area, the low-level maintenance consolidation is slowly moving up to the 0 axis, and the RSI index is in the consolidation near the 50 equilibrium line;

Multi empty turning point: 6.66466

Pressing position: 6.68576, 6.70801

Support position: 6.63556, 6.61559

Trading strategy: bullish above 6.66466, target 6.68576, 6.70801

Alternative strategy: bearish below 6.66466, target 6.63556, 6.61559

The above analysis is a personal point of view and is for reference only.