Market news
23.03.2021, 11:59

USD/CNH: No change in the consolidative theme - UOB

FXStreet reports that analysts at UOB suggest that USD/CNH is likely to keep the rangebound trading unchanged between 6.4730 and 6.5360 for the time being.

24-hour view: “Our expectation for USD to ‘edge higher to 6.5250’ did not materialize as it traded in a quiet manner within a 6.5020/6.5185 range. The price actions offer no fresh clues and USD could continue to trade sideways. That said, the slightly weakened underlying tone suggests a lower trading range of 6.4950/6.5180.”

Next 1-3 weeks: “The outlook is mixed and USD is likely to trade between 6.4730 and 6.5360 for a period of time.”

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