| 4H | 1D | 1W | |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
Since the end of September, the USD/CNH exchange rate has been trading downwards within a falling wedge pattern.
From a theoretical point of view, it is likely that the currency pair could breach the given pattern north within the following trading sessions. In this case the pair could target the Fibo 38.20% at 6.8333.
Meanwhile, note that the exchange rate is pressured by 55-, 100– and 200-period moving averages in the 6.6874/6.7557 area. Thus, a breakout south could occur, and the rate could decline to 6.5000.