Usdcnh: back test bargain hunting

Fundamental analysis:

The precise dynamic adjustment of reverse repo operation will better maintain the stability of the money market and the reasonable and abundant liquidity, neither let the market be short of money, nor engage in "flooding", and guide and promote financial institutions to increase their support for the real economy. Compared with the "volume" of open market operations, institutional people suggest that we should pay more attention to price indicators such as dr007 (7-day repo weighted average interest rate of deposit institutions in the interbank market), reverse repo interest rate, MLF (medium-term lending facility) interest rate, etc. (China Securities News)

USD / RMB usdcnh daily chart:

Technical analysis:

According to the daily chart, the price rally was followed by a weak narrow fall consolidation, MACD operated on the 0 axis and the volume could continue to shrink slightly, RSI fell slowly, and it is expected that the short-term exchange rate probability will further rise after the fall consolidation.

Long short turning point: 6.6416

Resistance level: 6.7600 6.8870

Support position: 6.5385 6.4260

Trading strategy: above 6.6416, bullish, with target prices of 6.7600 and 6.8870

Alternative strategy: below 6.6416, bearish, with target prices of 6.5385 and 6.4260