| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The USD/CNH currency pair has been trading upwards since the beginning of July after it tested the support level formed by the monthly S1 at the 6.8172 mark. Currently, the pair is trying to surpass the support formed by the 55-, 100– and 200-hour SMAs in the 6.8798/6.8825 range.
If the given moving averages hold, it is expected, that bulls could continue to prevail in the market in the nearest future. However, note, that the exchange rate has to surpass the resistance level formed by the monthly PP at 6.8901.
Otherwise, it is expected, that the rate could resume its decline. A possible downside target is the psychological level at 6.8400. It is unlikely, that the pair could drop lower than the given monthly S1.