USD/CNH intraday: target 6.4407

USDCNH

Trading Central 2021-02-23 03:05:06

Our pivot point is at 6.4774.

Our preference: target 6.4407.

Alternative scenario: above 6.4774, look for 6.4896 and 6.4968.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (6.4672) but above its 50 period moving average (6.4626).

Supports and resistances:

6.4968 **

6.4896 *

6.4774 **

6.4727

6.4655 last

6.4479

6.4407 **

Disclaimer

The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.