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

14 July 2022 at 11:19AM (UTC+0)

Relevance until15 July 2022 at 11:19AM (UTC+0)

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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

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