USDCNH: wide shock

The USD/RMB remained oscillating around 6.79534. Mi Feng, spokesman of the National Health and Medical Commission, said: Recently, the national epidemic situation has become increasingly stable, and the overall positive trend has continued to consolidate. The current monitoring has not found any significant increase in the transmissibility, immune escape ability and pathogenicity of the virus variant. At present, primary and secondary schools across the country have opened one after another, and spring plowing in rural areas has begun one after another.

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

Looking at the 4-hour chart: the short-term wide-range shock trend, the bullish momentum has signs of waiting for an opportunity to enter the market and move upward, the MACD indicator is in the bullish area to maintain consolidation, and the RSI indicator is hovering weakly above the 50 balance line;

Long-short turning point: 6.79317

Suppression: 6.80306, 6.80973

Support: 6.78626, 6.77913

Trading strategy: Bullish above 6.79317, target 6.80306, 6.80973

Alternative strategy: bearish below 6.79317, target 6.78626, 6.77913