<p>On the chart of 4h, the renewed price for USD and the offshore yuan is on 6.92172. After the decline of 6.96936 to 6.91. The pair is trading within the range of the 23.6% retracement and 78.6% retracement after the gap created by the speculation of the G20 agreement between the two parties. The buyers are returning and pulling up the price back to 6.9 even though MACD suggest selling. The RSI and bull power all witnessed a reversal into positive territory trend. Technically, the pair has touched the bottom. As long as the price retouched the 23.6% level, the long position is highly recommended.</p>

Take the bottom of USDCHN

Dec 01 2020