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USDCNH: Pull up as scheduled

2022-08-16
1334
Fundamental analysis:

The trend of economic transformation and upgrading continued. The growth trend of new kinetic energy for industrial upgrading and development is obvious, and the high-tech industry develops rapidly. From January to July, the added value of high-tech manufacturing increased by 9% year-on-year, and investment in high-tech industries increased by 20.2%. The digital economy is growing well.

USDCNH daily chart:


Technical brief:

See the daily chart: the price has been organized for many days and finally pulled up quickly, the MACD is running on the 0 axis but the volume can be slightly increased, and the RSI is rapidly rising. It is expected that the short-term exchange rate will likely rise further.

Long-short turning point: 6.6420

Resistance: 6.7600 6.8870

Support level: 6.5375 6.4260

Trading strategy: above 6.6420, bullish, target price is 6.7600, 6.8870

Alternative strategy: below 6.6420, bearish, target price at 6.5375, 6.4260

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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