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Usdcnh: short-term small step back
2022-08-17
1242
Fundamental analysis:
The US dollar index was trading near 106.50, and investors were waiting for US retail sales data and minutes of the Federal Reserve meeting to find new signals of the possible rate increase in September
USD / RMB usdcnh daily chart:
Technical analysis:
According to the daily chart, after the price rises rapidly, the price will step back slightly. MACD operates on the 0 axis and the volume can be increased slightly. RSI rises rapidly. It is expected that the short-term exchange rate will further rise after the step back.
Long and short turning point: 6.6420
Resistance level: 6.7600 6.8870
Support position: 6.5375 6.4260
Trading strategy: above 6.6420, bullish, with target prices of 6.7600 and 6.8870
Alternative strategy: under 6.6420, bearish, with target prices of 6.5375 and 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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