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- USD/CNH seen within the 6.4400-6.5200 range – UOB
USD/CNH seen within the 6.4400-6.5200 range – UOB
FXStreet reports that UOB Group’s FX Strategists suggested USD/CNH is expected to navigate between 6.4400 and 6.5200 in the next weeks.
Next 1-3 weeks: “Our latest narrative was from Monday where we indicated that ‘downward momentum is beginning to improve but USD has to close below 6.4400 before a move towards 6.4130 can be expected’. USD subsequently traded in a relatively quiet manner. The mild downward pressure has dissipated and USD is likely to trade sideways from here, expected to be between 6.4400 and 6.5200.”
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