FX.co ★ USD/CNY analysis for September 05, 2022 - Breakout of the triangle pattern

Technical analysis:

USD/CNY has been trading upside today and I saw the breakout of the symmetrical triangle pattern on the 4H time-frame.

Trading recommendation:

Due to the breakout of the symmetrical triangle in the upside trend, I see further upside continuation towards the next reference point.

Watch for the buying opportunities on the intraday dips with the main upside objective at the price of 7.080.

MACD oscillator is showing fresh upside money flow and no signs for the reversal, which is good sign for the further rally.

Key support is set at the price of 6.885