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USD CNH Technical Analysis - USD CNH Trading: 2025-02-05
USD/CNH Technical Analysis Summary
Above 7.29470
Buy Stop
Below 7.27680
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
USD/CNH Chart Analysis
USD/CNH Technical Analysis
The technical analysis of the USDCNH price chart on 1-hour timeframe shows USDCNH,H1 is retracing up above the 200-period moving average MA(200) after multiple tests of MA(200) in the last 24 hours. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 7.29470. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 7.27680. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - USD/CNH
China’s services sector expansion slowed in January. Will the USDCNH price rebounding persist?
China’s services sector expansion slowed more than expected in January: the Caixin China General Services PMI declined to 51.0 in January, down from December’s seven-month high of 52.2, and below market forecasts of 52.3. Readings above 50.0 indicate industry expansion, below indicate contraction. The latest reading indicates the softest expansion in the services sector since September, as new business growth eased to a four-month low, employment fell the most since April 2024, and selling price inflation slowed. Employment declined for the second straight month due to resignations and redundancies. Slowing of China’s services sector activities indicates slowing of China’s economy which is bearish for Chinese yuan and bullish for the USDCNH pair.
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