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Technical analysis

29.08.202213:51 Forex Analysis & Reviews: USD/CNY analysis for August 29, 2022 - First upside target has been reached, second target in the playt at 73080

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Technical analysis:

Exchange Rates 29.08.2022 analysis

USD/CNY has been trading upside as I expected. The price reached my first upside objective at 6.910 and is heading towards second upside target.

Trading recommendation:

Due to the strong upside momentum and no sign for the reversal, I see further growth.

Watch for potential buying opportunities on the intraday dips with the upside objective at 7.080.

MACD oscillator is showing fresh new upside momentum, which is good sign for further growth.

Key support is set at the price of 6.830

Petar Jacimovic
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