USDCNH: oscillating down

The USD/RMB remained oscillating around 7.14931. The Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Commerce jointly issued a notice on the work plan for the steady growth of the light industry (2023-2024): the target is that the average growth rate of the added value of the light industry from 2023 to 2024 is about 4%, and the business of enterprises above the designated size The revenue scale exceeded 25 trillion yuan.

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

Looking at the 4-hour chart: short-term dynamics fluctuate downward, short-term short-term sentiment gradually emerges, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is weakly hovering below the 50 balance line;

Resistance levels: 7.16224 7.17097

Support levels: 7.14163 7.13411

Trading strategy: bearish below 7.15399, target 7.14163 7.13411

Alternative strategy: Bullish above 7.15399, target 7.16224 7.17097