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USD/CNH Technical Analysis - USD/CNH Trading: 2024-09-09
USD/CNH Technical Analysis Summary
Above 7.1149
Buy Stop
Below 7.0726
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Buy |
USD/CNH Chart Analysis
USD/CNH Technical Analysis
The technical analysis of the USDCNH price chart on 4-hour timeframe shows USDCNH,H4 is rebounding under the 200-period moving average MA(200) after retracing to ten-day low last session. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 7.1149. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 7.0726. After placing the order, the stop loss is to be moved to the next fractal low indicator, 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 inflation ticked up in August. Will the USDCNH price rebounding persist?
China’s inflation ticked up in August: China's consumer prices continued rising in August, while factory-gate prices fell at faster pace. The National Bureau of Statistics of China reported China’s Consumer Price Index (CPI) rose 0.6% over year in August after gaining 0.5% in July when 0.7% increase was expected. At the same time Producer Price Index (PPI) fell 1.8% over year after 0.8% decline in July when a 1.5% decline was expected. Slower than expected increase in Chinese consumer prices is bearish for Chinese currency and bullish for USDCNH.
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