USD/CNH’s previous hourly candle closed on a positive note, confirming a higher low or a bullish divergence of the relative strength index (RSI) on the hourly chart.
The RSI on the 4-hour chart is also reporting oversold conditions, while the long-tail attached to the current 4-hour candle is signaling bearish exhaustion.
The pair, therefore, could rise above 6.70. The bullish case would weaken if the spot finds acceptance below 6.6748 (Feb. 27 low).
Trend: Bounce likely