USDCNH: Bulls soar

USD/RMB remained oscillating around 6.80238, and the central bank released a statistical report on financial institution loans for the fourth quarter of 2022. At the end of 2022, the balance of RMB real estate loans was 53.16 trillion yuan, a year-on-year increase of 1.5%, 6.5 percentage points lower than the growth rate at the end of the previous year; the annual increase was 721.3 billion yuan, accounting for 3.4% of the increase in various loans during the same period.

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

Looking at the 4-hour chart: the bullish momentum is soaring strongly, the short-term bullish sentiment is shrouded, the bullish momentum in the market continues to rise, the high level continues to move upward, the MACD indicator is rising in the bullish zone, and the RSI indicator is in the bullish zone.

Long-short turning point: 6.80238

Suppression: 6.81098, 6.81664

Support: 6.79632, 6.79046

Trading strategy: Bullish above 6.80238, target 6.81098, 6.81664

Alternative strategy: bearish below 6.80238, target 6.79632, 6.79046