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Usdcnh: keep buying above 6.65

2022-07-15
1218
Fundamental analysis:


The US dollar is expected to continue to rise, thanks to the fact that the US Federal Reserve is expected to raise interest rates more than other major central banks, including the European Central Bank.


USD / RMB usdcnh daily chart:


Technical analysis:


According to the daily chart, after several days of convergence and consolidation, the price began to rise. MACD runs on the 0 axis and the volume can continue to increase slightly. RSI began to rise. It is expected that the short-term exchange rate will rise further.


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

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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