#TradFi交易分享挑战 EURCNH Technical Pattern Analysis:

EUR/CNH has been steadily declining since early May from the 8.05 level, with two tests of support around 7.88 last Friday and Monday, forming a short-term double bottom pattern. The current price has rebounded to around 7.92, mainly driven by a rebound in EUR/USD and a stable USD/CNH at 6.80. The daily RSI has recovered from the oversold zone of 35 to 38–42, and the MACD histogram's negative values are narrowing, indicating a short-term technical rebound demand. Today’s market sentiment will be influenced by news related to Putin’s visit to China and market reactions after the European stock market opens. If EUR/USD continues to rebound, EUR/CNH may test resistance at 7.95–7.96; if EUR/USD falls back to around 1.16, EUR/CNH may consolidate between 7.88–7.90. In the medium term, the trend of EUR/CNH largely depends on the dual drivers of EUR/USD (European stagflation risk + ECB rate hike expectations) and USD/CNH (US-China relations + China's domestic demand recovery).

From the daily chart, EURCNH has formed a short-term consolidation range between 7.90 and 7.95, with resistance near 7.95 and support near 7.90. A break above 7.95 could trigger a new upward trend; a break below 7.90 may lead to a test of the 7.85 support level.

Overall judgment: In the short term, EURCNH is likely to remain within a narrow range, requiring close attention to the dollar’s trend, Eurozone economic data, and RMB exchange rate policy changes. If the dollar continues to weaken and Eurozone economic performance remains strong, EURCNH may break upward; otherwise, it may continue to fluctuate within the range or experience a slight pullback. $EURCNH