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USDCNH: low order
2022-12-08
1218
Fundamental analysis:
The USD/RMB remained volatile around 6.96903. As of the end of November 2022, my country's foreign exchange reserves were US$3,117.5 billion, an increase of US$65.1 billion, or 2.13%, from the end of October. In November 2022, affected by factors such as global macroeconomic data and monetary policy expectations of major economies, the U.S. dollar index fell and global financial asset prices rose.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the short-term maintenance of low-level consolidation, the market’s bearish sentiment remains, and the signs of low-level weak consolidation have not yet changed. The MACD indicator is in the short-selling area, and the RSI indicator is in the short-selling area.
Long-short turning point: 6.98043
Suppression: 7.00074, 7.02104
Support: 6.94877, 6.92787
Trading strategy: bearish below 6.98043, target 6.94877, 6.92787
Alternative strategy: Bullish above 6.98043, target 7.00074, 7.02104
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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