| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Sell | Sell | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The USD/CNH currency pair has been trading upwards within the ascending channel since the end of January. Currently, the pair is testing the lower channel line at 6.5960.
From a theoretical point of view, it is likely that a reversal north could occur in the nearest future, and the exchange rate could target the upper channel line located in the 7.0800/7.1200 range. If the given channel holds, it is likely that the rate could trade upwards in the medium term.
However, note that the currency pair is pressured by the 55-hour SMA near 6.9750. Thus, a breakout south could occur, and the pair could decline to the Fibo 38.20% at 6.8333.