| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
The USD/CNH exchange rate has been trading within a rising wedge pattern since the beginning of May.
From a theoretical perspective, it is likely that the currency pair could trade within the given pattern until the middle of June. Then, a breakout south could follow.
Meanwhile, note that the exchange rate remains pressured by the psychological level at 7.2000. If the given level holds, it is likely that a breakout south could occur sooner. Note that the rate could gain support from the Fibo 23.60% at 6.9733.