USDCNH: low move down

Fundamental analysis:

The U.S. dollar against the renminbi remained volatile around 6.94280. The central bank publicly solicited opinions on the "Financial Infrastructure Supervision and Administration Measures (Draft for Comment)". Overseas financial infrastructure and its operating institutions that provide cross-border delivery services for domestic residents or institutions should carry out financial The infrastructure has been in service for more than 3 years, and has been subject to comparable and comprehensive supervision and regulation by the corresponding government agencies in the country or region where it is located. There have been no major risk accidents or severe punishments by relevant regulatory agencies.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term entanglement in the low position maintains a narrow range of consolidation and translation, the market as a whole is in a weak position and is moving downward slowly, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is in a weak consolidation below the 50 balance line;

Long-short turning point: 6.95707

Suppression: 6.97556, 9.99464

Support: 6.92666, 6.91117

Trading strategy: bearish below 6.95707, target 6.92666, 6.91117

Alternative strategy: Bullish above 6.95707, target 6.97556, 9.99464