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USDCNH 26 May 2023

USDCNH 26 May 2023 on the weekly timeframe, this pair looks stronger and continues to experience a bullish trend since last month. Moving from 6.91372 towards R1, it is now at 7.07169 and looks like it will continue to move higher. If this pair is able to continue bullish and penetrated R1 towards R2, then go-long can be an option for long-term traders. But if on the contrary, a trend reversal occurs because it looks like on the stochastic indicator has been overbought then go-short is an option. Keep an eye on market movements and changes.

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