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- USD/CNH risks a move lower to 6.7000 – UOB
USD/CNH risks a move lower to 6.7000 – UOB
FXStreet reports that FX Strategists at UOB Group believe USD/CNH is poised for further downside in the next weeks.
24-hour view: “Our expectation for USD to ‘edge higher to 6.7600’ did not quite materialize as it traded in a quiet manner between 6.7276 and 6.7544. The underlying tone has weakened somewhat but while USD could edge lower but Monday’s (05 Oct) low of 6.7135 could be just out of reach (minor support is at 6.7200). Resistance is at 6.7450 but the stronger level is at 6.7550.”
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