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USDCNH: high move up

2023-02-15
1065
Fundamental analysis:

According to the National Bureau of Statistics, according to the monitoring of the market prices of 50 important means of production in 9 categories in the national circulation field, compared with the first ten days of February 2023 in late January, the prices of 12 products rose, 35 3 fell and 3 were flat. Among them, the price of live pigs (external three yuan) was 14.0 yuan/kg, a decrease of 2.1% from the previous period.

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



Brief technical analysis:

Looking at the 4-hour chart: After the short-term shock and retracement of the high-level bulls, they pulled up again, and the bullish sentiment in the market continued.

Long-short turning point: 6.83108

Suppression: 6.84156, 6.84837
Support: 6.82191, 6.81365

Trading strategy: Bullish above 6.83108, target 6.84156, 6.84837
Alternative strategy: bearish below 6.83108, target 6.82191, 6.81365

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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