| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇗ |
The USD/CNH currency pair has been trading upwards within an ascending channel since the beginning of April. Currently, the pair is testing the lower channel line at 7.0800.
From a theoretical point of view, it is likely that the exchange rate could continue to trade upwards within the given channel in the medium term. In this case the rate could reach the psychological level at 7.2000 by the beginning of June.
However, note that the currency pair is pressured by the 55-, 100– and 200-hour SMAs in the 7.0900. Thus, the pair could breach the given channel south in the nearest future. In this case the pair could decline to the Fibo 23.60% at 6.9733.