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FX.co ★ USD/CNY analysis for July 14, 2022 - Upside breakout and potential for bigger growth

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Forex Analysis:::2022-07-14T11:19:03

USD/CNY analysis for July 14, 2022 - Upside breakout and potential for bigger growth

Technical analysis:

USD/CNY analysis for July 14, 2022 - Upside breakout and potential for bigger growth

USD/CNY has been trading upside in the background and there is the upside breakout of the contraction, which is very good sign for further growth.

Trading recommendation:

Due to the strong growth in the background and breakout of the continuation al pattern, I see potential for further upside movement.

Watch for potential buying opportunities on the intraday pullbacks with the upside objective at 6.813 and 1.150,

MACD is showing new fresh upside pressure, which is good sign for further upside continuation.

Short-term support is set at the price of 6.693

Analyst InstaForex
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