| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Buy | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The USD/CNH currency pair has been trading within a falling wedge pattern since the end of July.
From a theoretical perspective, it is likely that a reversal north could occur within the following trading sessions. In this case the exchange rate could target the psychological level at 7.1000.
In the meantime, note that the currency pair is pressured by the 55-, 100– and 200-hour SMAs in the 6.9460/6.9890 area. Thus, it is likely that some downside potential could continue to prevail in the market, and the pair could target the Fibo 38.20% at 6.8333.