- Analytics
- News and Tools
- Market News
- USD/CNH still risks a move lower - UOB
USD/CNH still risks a move lower - UOB
FXStreet reports that UOB Group’s FX Strategists note that USD/CNH is still seen attempting a move to the 6.4015 level in the next weeks.
24-hour view: “Indicators are mostly ‘flat’ and further consolidation would not be surprising. Expected range for today, 6.4250/6.4400.”
Next 1-3 weeks: “Our view from Wednesday (19 May, spot at 6.4255) still stands. As highlighted, USD is under mild downward pressure and could grind lower to 6.4015. At this stage, the prospect for a sustained decline below this level is not high. On the upside, a breach of 6.4460 (‘strong resistance’ level) would indicate that the current mild downward pressure has eased.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
