| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
Since the end of December, the USD/CNH currency pair has been trading downwards within a descending channel.
From a theoretical perspective, it is likely that the exchange rate could continue to decline within the predetermined channel in the medium term. The rate could start to trade below 6.4500 by the beginning of April.
Meanwhile, note that the currency pair could gain support from the 55-, 100– and 200-period moving averages in the 6.4330/6.4600 area. Thus, a breakout north could occur, and the pair could target the 6.7500 level.