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USDCNH: low volatility
2023-07-27
811
Fundamental analysis:
The dollar was trading around 7.14915 against the yuan, as U.S. Commerce Secretary Gina Raimondo said at an event at the Woodrow Wilson Center, a U.S. think tank, that she plans to visit China "late this summer."
US dollar RMB USDCNH - the 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: After the low short-term shocks moved up, the market bullish sentiment gradually emerged, and there were signs of continued upward movement in the short term. The MACD index was in the short-term area for consolidation, and the RSI index was hovering below the 50 balance line.
Resistance levels: 7.15985 7.16980
Support levels: 7.13387 7.12468
Trading strategy: Bullish above 7.14390, target 7.15985 7.16980
Alternative strategy: bearish below 7.14390, target 7.13387 7.12468
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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