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USDCNH: high volatility
2023-02-09
1072
Fundamental analysis:
USD/RMB fluctuates around 6.79615. Both China and Australia are important countries in the Asia-Pacific region. The economies of the two countries are highly complementary. The healthy and stable development of China-Australia relations is in the fundamental interests of the two peoples and is also conducive to promoting peace in the Asia-Pacific region and the world stability and prosperity.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The bullish momentum is fluctuating at a high level, and there are signs of continued upward movement in the short term. The market’s bullish sentiment remains, the MACD indicator is in the bullish zone, and the RSI indicator is hovering weakly above the 50 balance line;
Long-short turning point: 6.79317
Suppression: 6.80306, 6.80974
Support: 6.78626, 6.77913
Trading strategy: Bullish above 6.79317, target 6.80306, 6.80974
Alternative strategy: bearish below 6.79317, target 6.78626, 6.77913
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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