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USDCNH: low up
2022-12-13
1259
Fundamental analysis:
USD/RMB remained oscillating around 6.98782. With the adjustment of epidemic prevention policies and the setting of economic policies, it is expected that the comprehensive recovery market will enter the observation and adaptation period from the policy expectation-driven stage. It is expected to gradually shift from "short-term" to "long-term" and start to lay out the second-stage market driven by performance.
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the low-level long-term momentum maintains a narrow-range upward trend, and the short-term may maintain a slow upward trend. The MACD indicator is in the short-term area and maintains a shock upward trend to hover around the 0 axis. The RSI indicator is in a weak order on the side of the 50 balance line;
Long-short turning point: 6.97804
Suppression: 7.01029, 7.03060
Support: 6.95773, 6.93922
Trading strategy: Bullish above 6.97804, target 7.01029, 7.03060
Alternative strategy: bearish below 6.97804, target 6.95773, 6.93922
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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