Market news
26.07.2021, 11:37

USD/CNH: Further consolidation on the cards - UOB

FXStreet reports that FX Strategists at UOB Group note that USD/CNH is still seen within the 6.4400-6.5000 range in the next weeks.

24-hour view: “The underlying tone has improved somewhat and we see chance for USD to test 6.4900. The major resistance at 6.5000 is unlikely to come into the picture. Support is at 6.4750 followed by 6.4700.”

Next 1-3 weeks: “Our latest narrative from last Thursday (22 Jul, spot at 6.4660) still stands. As highlighted, USD is still in a consolidation and it could trade sideways between 6.4400 and 6.5000 for now. Looking ahead, the upside risk appears to greater but USD has to close above 6.5000 before a sustained advance can be expected.”

© 2000-2021. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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.

Feedback
Live Chat E-mail
Up
Choose your language / location