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USD and RMB: maintain wide fluctuation
2022-06-17
1143
Fundamental analysis:
The USD / RMB remained volatile around 6.68388. The Federal Reserve announced its latest interest rate resolution for June. The Federal Reserve raised interest rates by 75 basis points to 1.50-1.75%. In the decision statement of the Federal Reserve: China has become a concern again; Inflation expectations change; Some people object to an increase of 75 basis points.
USD and RMB usdcnh - 4-hour K-line chart display:
Technical comments: the bearish power continued to move down from the middle and lower track of the Bollinger belt index channel, and there was no sign of final stop in the short-term downward movement trend. The Bollinger belt index was moving downward in the closing trend. The short position area under the 0 axis of the MACD index kept moving down, and the RSI index remained weak under the 50 equilibrium line;
Long short turning point: 6.69178
Pressing position: 6.70646, 6.72309
Support position: 6.66904, 6.65446
Trading strategy: bearish below 6.69178, with targets of 6.66904 and 6.65446
Alternative strategy: bullish above 6.69178, target 6.70646, 6.72309
The above analysis is a personal point of view and is for reference only.
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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