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- USD/CNH now targets 6.4920 – UOB
USD/CNH now targets 6.4920 – UOB
FXStreet reports that UOB Group’s FX Strategists discuss USD/CNH prospects.
Next 1-3 weeks: “18 Feb, we highlighted that ‘6.4500 is a solid resistance and USD has to break this level before further gains can be expected’. We did not quite anticipate the ease by which USD blew past 6.4500 and surged to 6.4715. The break of the solid resistance coupled with improvement in momentum suggests USD could continue to advance in the coming days. The next resistance level of note is at 6.4920. Overall, the outlook for USD is deemed to be positive as long as it does not move below 6.4200.”
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