USDCNH: Narrow finishing

Fundamental analysis:

The USD/RMB remained oscillating around 6.98827. In an in-depth interpretation of the spirit of the Central Economic Work Conference and current economic hotspot issues, the responsible comrades of the Central Finance Office pointed out that the next step is to strengthen the financial stability guarantee system, promote the strengthening of corporate governance of financial institutions, and strictly enforce , Major shareholder qualification review and behavior supervision, effectively isolate industrial capital and financial risks, guide financial institutions to find the right position, focus on the main business, and continuously consolidate the micro-foundation for healthy financial development.

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

Brief technical analysis:

Looking at the 4-hour chart: short-term low-level short-term consolidation, bullish momentum has signs of entering the market and moving upwards, but the overall situation is still in a weak position. The MACD indicator is weakly organized near the 0 axis, and the RSI indicator is weak on the side of the 50 balance line;

Long-short turning point: 6.98150

Suppression: 7.00131, 7.01503

Support: 6.96738, 6.95295

Trading strategy: Bullish above 6.98150, target 7.00131, 7.01503

Alternative strategy: bearish below 6.98150, target 6.96738, 6.95295