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Usdcnh: short range oscillation down

2022-08-10
1317
Fundamental analysis:

The USD / RMB fluctuated around 6.75250, the global economic growth will be further revised down, and the risk of recession or stagflation in the United States and other major economies will increase. We should be vigilant against overseas financial market risks and debt risks.


USD and RMB usdcnh - 4-hour K-line diagram shows:



Technical analysis:


According to the 4-hour chart, the short-term trend may continue to move downward while the short-term trend may continue. The overall short-term downward trend of the market will continue. The MACD index is hovering at the lower side of the 0 axis, and the RSI index is weak at the lower side of the 50 equilibrium line;


Long and short turning point: 6.75430


Pressing position: 6.75954, 6.76491


Support position: 6.74794, 6.74357


Trading strategy: bearish below 6.75430, targets 6.74794 and 6.74357


Alternative strategy: bullish above 6.75430, targets 6.75954 and 6.76491


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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