USDCNH: bulls pull up

Fundamental analysis:

The U.S. dollar against the RMB remained volatile around 7.01035. The Ministry of Commerce announced that the Brazilian Foreign Trade Commission issued an announcement on the final ruling on the anti-subsidy case of aluminum plate products originating in China in the "Federal Government Gazette" on the 21st, deciding to levy 14.88% to 14.93%. Subsidy tax, for a period of 5 years, but due to public interest considerations, tax collection will be suspended until March 31, 2023 from the effective date of the measure.

US dollar RMB USDCNH - the 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is rising at a high level, short-term bullish sentiment is emerging, the bulls in the market are constantly rising, the MACD indicator is hovering weakly above the 0 axis, and the RSI indicator is weakly finishing above the 50 balance line;

Long-short turning point: 7.00688

Suppression: 7.01609, 7.02157

Support: 7.00142, 6.99564

Trading strategy: Bullish above 7.00688, target 7.01609, 7.02157

Alternative strategy: bearish below 7.00688, target 7.00142, 6.99564