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USD/CNH Technical Analysis - USD/CNH Trading: 2022-09-16
USD/CNH Technical Analysis Summary
Below 7.0173
Sell Stop
Above 7.0418
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Sell |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
USD/CNH Chart Analysis
USD/CNH Technical Analysis
The technical analysis of the USDCNH price chart on 1-hour timeframe shows USDCNH,H1 has peaked above the 200-period moving average MA(200) which is rising still. However, the RSI has formed a bearish divergence. We believe the bearish movement will resume after the price breaches below the fractal low at 7.0173. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 7.0418. After placing the order, the stop loss is to be moved to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - USD/CNH
China’s industrial production rose in August. Will the USDCNH price advancing persist?
China’s industrial production rose in August: the National Bureau of Statistics of China reported industrial production rose 4.2% over year in August from 3.8% growth in July when a steady growth at 3.8% was expected. This is bearish for USDCNH.
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