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USDCNH 9 Aug 2024 On the weekly timeframe, USDCNH seems to be trying to initiate bullishness after a significant drop, which brought the pair into the kumo cloud in the previous session. The pair dropped from the price of 7.28400 to reach the position of 7.16346, but is now in a bullish trend and is trying to strengthen again. Although the stochastic indicator chart is still in the 30 level range, there are indications of a potential bounce up, especially if there is a crossing between the moving averages, which could strengthen the bullish signal going forward.
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