| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Sell | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The USD/CNH currency pair has been trading upwards since the middle of January when it failed to surpass the Fibonacci 38.20% retracement at 6.8333. Currently, the pair is trading at 7.0200 level.
Note that the exchange rate is supported by the 55– and 100-hour moving averages, currently located circa 6.9900. Thus, some upside potential could continue to prevail in the market. The rate could reach the 2019 high at 7.2000.
However, note that the currency pair would have to surpass the monthly R1 at 7.0573. If the given resistance level holds, a reversal south could occur in the nearest future, and the pair could re-test the Fibo 38.20%.