| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
Since the middle of September, the USD/CNH currency pair has been declining within a falling wedge pattern.
From a theoretical point of view, it is likely that the exchange rate could breach the given pattern north within the following trading sessions. In this case the rate could re-test the resistance level—the Fibo 38.20% at 6.8333.
Meanwhile, note that the currency pair is pressured by the 55-, 100– and 200-period SMAs in the 6.7500/6.8030 area. Thus, some downside potential could prevail in the market.